Alarm Bells and Rate Rises

We should probably bring them up to date.

So a week ago today, um, [tsks] or a week ago Tuesday at least, um, uh, Jacob Coxon, an employee of Anthropic quit, and he posted on X, formerly Twitter, um, that, uh, everyone working on AI thinks that it's going to kill us all.

And then a couple of others from Anthropic, um, supported him, saying, uh, they agreed.

Uh, not only that they think AI's gonna kill us all, but that everybody who's building AI thinks that.

And then, um, the CEO of Anthropic, Dario Amodei, uh, produced an essay, 3,800 words, uh, basically saying, "Yes, there's a real problem here, um, and we need to have regulation." So that's a very unusual case of a, of a CEO of a company calling for regulation of his business [chuckles]-

Mm

... which, which you don't often see.

No.

Uh, and saying there needs to be a global kind of a- agreement of some sort.

And, um, Sam Altman, the CEO of, uh, OpenAI, and also Elon Musk, uh, supported him.

Immediately.

I know, immediately.

That's right.

And then Donald Trump came out on the weekend, uh, or Monday, saying, "Absolutely not.

We're not gonna do that because this is a race and, uh, we're in...

Uh, the United States is in the lead and we don't want China to take over.

Um, so we're not gonna do anything." And that's kind of where it stands, isn't it? I mean, there's been-

Currently, yep

... a colossal amount of, um-

Yep

... pixels, uh, produced and words and all this.

Yeah, no. Li- listeners will be shocked to hear that, um, Jensen Huang, the, the co-founder and chief executive of NVIDIA, has been out the last two days saying, "Oh, no, no, no.

No need for regulation.

Please keep buying my chips in, in great numbers." Um [tsks] and you know, we saw AI infrastructure stocks, so memory stocks and, and computer chip stocks, they, they fell on Monday night.

They recovered a bit on Tuesday.