It's one of the last versions where the modal dialogs ask "Yes" or "No", instead of "Yes" and "Not now", "Maybe later", or "Ask again tomorrow".
"CONSENT: A clear and unambiguous agreement, expressed outwardly through mutually understandable words or actions, to engage in a particular activity. Consent can be withdrawn by either party at any point."
and
"No means No"
What I'm about to say is strongly worded and I understand not a _perfect_ analogy by any means. However, it does sum up my feelings on this issue.
If Person A makes repeated unwanted advances towards Person B, we have words to describe that. But if Person A, a company, makes repeated unwanted advances towards Person B we call that business.
1) the average American is heavily dependent on equities in their 401k for retirement,
2) so the stock market has to go up,
3) but the stock market is already at record valuations and it's difficult to see how forecasted growth levels justify the current valuation let alone an increased valuation,
4) without revenue growth, the only way for companies to sustain EPS growth is massive reduction in costs,
5) labor is the primary cost for most companies,
6) in come the AI folks telling CEOs that "AI can replace most of their workforce",
7) and so as the article states, everyone goes all in and "America is one big bet on AI"
That leaves us with only 2 possibilities - AI either replaces a significant part of the workforce or it does not. If it does not, the bubble bursts and the economy crashes. If it does, the economy still crashes because consumer spending is 70% of GDP and if the majority of the population becomes unemployed then spending collapses.
I don't think people have realized the latter (or at least they're deliberately choosing to ignore it). That said, I believe the former is more likely (AI not replacing the majority of the workforce in the near future). Either way, buckle up.
> 2) so the stock market has to go up
This is why I've come to despise 401k's replacing old-school pensions. Yes, pensions had their problems but with 401k's workers must fleece themselves to have any sort of retirement opportunity.
Want a shot at retirement? Now we all have to run ourselves into the ground to make number go up. It's insane.