I'm worried about AI psychosis. Specifically, I'm worried about the psychosis that makes "capital allocators" spend *$1.4T* on the money-losingest technology in human history, in pursuit of a bizarre fantasy that if we teach the word-guessing program enough words, it will take all the jobs.
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pluralistic.net/2026/04/13/alw…
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CaliCarol
in reply to Cory Doctorow • • •I have been describing AI as a business cult. CEOs signing up to spend mountains of money, jettisoning any analytical discipline. I chalk it up to psychosis born of unchecked monopoly. They're all at the Davos circle jerk getting played by the most sociopathic grifters among them.
What could go wrong?
Davidson
in reply to CaliCarol • • •Davidson
in reply to Davidson • • •Davidson
in reply to Davidson • • •So we have developers implementing AI because they're being pressured to optimize, CEOs implementing AI because they're pressured to protect their company and investors buying into AI because they fear the devaluation of their investments.
Some data seems to indicate that companies believe that AI adoption is in its nascent stage, even when their own bets have only paid off marginally, so it looks like this is going to continue for the foreseeable future.
Bruce Simpson, Ph.D.
in reply to Davidson • • •Davidson
in reply to Bruce Simpson, Ph.D. • • •@bms48 @jawarajabbi
I'd say that this is different because it's not just a marketing gimmick, it's a variable that promises an unknown amount of cost optimization.
For people who have spent their lives amassing a fortune, the prospect of losing a significant portion of it (or all of it) becomes an incentive to spend an insignificant amount of that fortune on AI in order to hedge the bet.
Bruce Simpson, Ph.D.
in reply to Davidson • • •Kim Spence-Jones 🇬🇧😷
in reply to CaliCarol • • •Leveraging FOMO has always been the key skill of grifters. Never has that been more evident than with the rush to “AI” everything.
G-Squirrel
in reply to Cory Doctorow • • •bovaz
in reply to G-Squirrel • • •That, and turning words like "socialism" into political slurs, for some fucking reason.
Dar
in reply to G-Squirrel • • •@gsquirrel
It's so obvious it's under our noses.
Mandelson and Epstein circa 2008
George Osborn, Chancellor from 2010 onwards - photographed partying on Epstein's yacht.
Both main parties captured by this group of paedo billionaires, all agreeing austerity is great.
HighlandLawyer
in reply to Dar • • •"People as things, that’s where it starts."
(Carpe Jugulum)
Unlocking_Freedom
in reply to Dar • • •History of events as chronicled by Max Spiers
www.printernational.co.ukCory Doctorow
in reply to Cory Doctorow • • •Sensitive content
That's some *next-level* underpants-gnomery:
pluralistic.net/2026/03/12/nor…
The thing that worries me about billionaires' AI psychosis isn't concern for their financial solvency.
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Pluralistic: Three more AI psychoses (12 Mar 2026) – Pluralistic: Daily links from Cory Doctorow
pluralistic.netCory Doctorow
in reply to Cory Doctorow • • •Sensitive content
No, what I worry about is what happens when the seven companies that comprise a third of the S&P 500 stop trading the same $100b IOU around while pretending it's in all of their bank accounts at once and *implode*, vaporizing a third of the US stock market.
My concern about a massive collapse in the capital markets isn't that workers will suffer *directly*.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
Despite all the *Wonderful Life* rhetoric about your money being in Joe's house and the Kennedy house and Mrs Macklin's house, the reality is the median US worker has *$955* saved for retirement. You could nuke the whole financial system and not take a dime out of most workers' pockets:
finance.yahoo.com/news/955-sav…
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Jouw privacykeuzes
finance.yahoo.comCory Doctorow
in reply to Cory Doctorow • • •Sensitive content
No, the thing that has me *terrified* about AI is that when it craters and takes the economy with it, that we will respond the same way we have during every financial crisis of the 21st century: with austerity, and austerity breeds *fascism*.
There's a direct line from every K-shaped recovery to every strong-man who's currently sending masked gunmen into the streets.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
The Hungarian dictator Viktor Orban rose to power after people who'd been suckered into denominating their mortgages in Swiss francs lost their houses when the currency markets moved suddenly, because the swindlers who'd sold them those mortgages took the position that wanting to live somewhere automatically made you an expert in forex risk, so caveat fuckin' emptor, baby.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
Back in America, Obama decided to bail out the banks and not the people. His treasury secretary Tim Geithner told him the banks were headed for a catastrophic crash and could only be saved if he "foamed the runways" with everyday Americans' mortgages. Millions of Americans lost their homes to foreclosure as banks, flush with public cash, threw them out of their homes and then flipped them to investment banks who became the country's worst slumlords:
pluralistic.net/2022/02/08/wal…
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Pluralistic: 08 Feb 2022 – Pluralistic: Daily links from Cory Doctorow
pluralistic.netCory Doctorow
in reply to Cory Doctorow • • •Sensitive content
Americans were understandably not entirely happy with this outcome. So when Hillary Clinton replied to Donald Trump's "Make America Great Again" with "America is already great," her message was, "Vote for me if you think everything is great; vote for Trump if you think everything is *fucked*":
politico.com/blogs/2016-dem-pr…
"Austerity begets fascism" is one of those things that makes a lot of intuitive sense, but it turns out that there's a good empirical basis for believing it.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
In "Public Service Decline and Support for the Populist Right" four economists from the LSE and Bocconi provide an excellent look at the linkage between austerity and support for fascists:
catherinedevries.eu/NHS.pdf
Here's how they break it down. Political scientists have assembled a large, reproducible body of evidence to show that "public service provision is crucial to people’s perceptions of their quality of life and living standards."
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
Good public services are the basis for "the social contract between rulers and the ruled" - pay your taxes and obey the laws, and in return, you will be well served.
When public services go wrong, people don't always know who to blame, but they *definitely* notice that something is going wrong, so when public services fail, people stop trusting the state, and that social contract starts to fray.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
They start to suspect that elites are lining their pockets rather than managing the system, and they "withdraw their support" for the system.
Fascists thrive in these conditions. Fascists come to power by mobilizing grievances. By choosing a scapegoat, fascists can create support from people who are justifiably furious that the services they rely on have collapsed.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
So when you can't get shelter, or health care, or elder care, or child care, or an education for your kids, you become a mark for a fascist grifter with a story about "undeserving migrants" who've taken the benefits that should rightly accrue to "deserving natives."
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Chris
in reply to Cory Doctorow • • •Sensitive content
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
(This is grimly hilarious, given that the wizened, decrepit rich world is critically dependent on migrants as a source of healthy, working-age workers who pay massive amounts into the system while barely making use of it, many of whom plan on retiring to their home countries when they do reach the age where they're likely to extract a net loss to the benefits system.)
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Mark Newton
in reply to Cory Doctorow • • •Sensitive content
Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
Enter the NHS, a beloved institution that is hailed as the pride of the nation by both the political left and the right. The majority of Britons use the NHS, with only 12-14% of the population "going private," so when the NHS declines, *everybody* notices (what's more, even people with private care use the NHS for many of their needs).
Britons love the NHS and they want the government to spend more on it.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
There's "a broad public consensus that the government is not going far enough when it comes to funding." That's because generations of cuts to the NHS have left it substantially hollowed out, with major parts of the service handed over to for-profit entities who overcharge and underserve.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
The most tangible and immediate evidence of this slow-motion collapse comes when your local general practitioner ("family doctor" or "primary care physician" in Americanese) shuts down. The UK has lost 1,700 GP practices since 2013.
Reasoning that a GP closure would make people angry at the system, the economists behind the paper wanted to see what happened to people's political beliefs when their GP's office shut.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
They relied on the GP Patient Survey, a longitudinal study run by NHS England and Ipsos Mori. The survey asks a statistically significant random sample of patients from every GP practice in the NHS and then weights the results "to reflect the demographic characteristics of the local population according to UK Census estimates." It's good data.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
The researchers cross-referenced this with various high-quality instruments that measured the political views of Britons, like the U Essex Understanding Society Panel, drawing on 13 years' worth of surveys from 2009-2022, gaining access to a protected version of the dataset with fine-grained geographic information about survey respondents, which allowed them to link responses to the "catchment areas" for specific GPs' office.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
They combined this data with the British Election Study panel, which has surveyed voters 29 times since 2014.
Most of the paper describes the careful work the researchers did to analyze, cross-reference and validate this data, but what interested me was the conclusion.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
People who see a severe degradation in the quality of the services they rely on switch their political affiliation to one of Britain's fascist parties - UKIP, the Brexit Party, or Reform - parties that have called for ethnic cleansing in Britain.
This is what has me scared. We can see the looming economic crises in our near future. If it's not the AI crash that triggers the next wave of austerity, it'll be the oil crisis created by Trump's bungling in the Strait of Epstein.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
And of course, we could always get a twofer, because the Gulf States that *were* pouring hundreds of billions into AI data-centers now need every cent to rebuild the LNG shipping terminals and oil refineries that Iran blew up after Trump, Hegseth and Netanyahu started murdering all the schoolgirls they could target. Once they nope out of the AI bubble, that could trigger the collapse.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
This is a study about the NHS, but it's not *just* about the NHS. It's perfectly reasonable to assume that people react this way when they experience cuts to their road maintenance, their schools, their community centers, and any other service they rely on. Fascism - what Hannah Arendt called 'organized loneliness' - can only take root when people stop believing that their society will reward their lawfulness with an orderly and humane existence.
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Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
The crisis is coming, but whether we do austerity is our choice. Everywhere we turn, political leaders are rejecting generations of failed austerity in favor of "sewer socialism" - the idea that you get people to trust their government by *earning* that trust. Zohran Mamdani is fixing 100,000 potholes in the first 100 days, despite the multi-billion dollar deficit that outgoing Mayor Eric Adams created by "running the city like a business":
prospect.org/2026/04/10/zohran…
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Getting New York City to Believe in Government
David Dayen (The American Prospect)Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
In Canada and the UK, party leaders like Avi Lewis (NDP) and Zack Polanski (Greens) are vowing to fight the coming crises by spending, not cutting. Compare that with UK fascist leader Nigel Farage, who says that if he's elected, he'll create a "paramilitary style" British ICE, building concentration camps for 24,000 migrants, with the hope of deporting 288,000 people per year:
thenerve.news/p/reform-deporta…
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Nigel Farage wants to build a British ICE. Keir Starmer may have handed him the tools
Rei Takver (The Nerve)Cory Doctorow
in reply to Cory Doctorow • • •Sensitive content
"Socialism or barbarism" isn't just a cliche - it's actually a choice on the ballot.
eof/
2qx 🔻
in reply to Cory Doctorow • • •Sensitive content
Much of what people don't get about AI (or crypto mining or housing) stems the misconception that The Bank in our monopoly is a fair a neutral player following all the rules.
Using energy and creating scarcity is the point when what The Bank controls is collateralized energy.
Why to people keep calling them the "Epstein Files" if he was just the fixer?
Mim54
in reply to Cory Doctorow • • •Sensitive content
Cory Doctorow reshared this.
muddle
in reply to Cory Doctorow • • •Fascism – what Hannah Arendt called 'organized loneliness' – can only take root when people stop believing that their society will reward their lawfulness with an orderly and humane existence.Thanks for that Hannah Arendt quote. TIL.
#Fascism #Collapse #Austerity
Cory Doctorow reshared this.
xs4me2
in reply to Cory Doctorow • • •This technology needs rules and regulation before being set loose on the public.
But big tech is only seeing the $$$
What could possibly go wrong.
LLM can be useful but only in the right hands with the right skills, and is exactly skills we will lose is this is used in the present scheme of things.
The WWW has democratized access to information (but also shows the same tabulation as it is also an accelerator for nonsense).
LLM now will take that away, not what we need!
Artstories
in reply to xs4me2 • • •Curtis "Ovid" Poe (he/him)
in reply to Cory Doctorow • • •I hear what you're saying and it's broadly right, but I want to push back a little bit. I think you're looking at a symptom and not the disease. If AI undeniably made the life of the masses better, we wouldn't object to it. But that's not what's happening, so what are we objecting to? It's extraction: when the wealthy use their power to acquire wealth instead of generating it.
[1]1. fosstodon.org/@ovid/1163348669…
2. curtispoe.org/projects/extract…
Curtis "Ovid" Poe (he/him) (@ovid@fosstodon.org)
Curtis "Ovid" Poe (he/him) (Fosstodon)Petra van Cronenburg
in reply to Cory Doctorow • • •I'm deeply worried about mentally ill people in a *real* psychosis who don't get therapy because not enough specialist doctors, support services, places. Whose families are already being lulled into a false sense of security by the idea that AI-powered counselling and therapy will surely be available soon.
Cory Doctorow reshared this.
Peter Evans
in reply to Cory Doctorow • • •DGM187
in reply to Cory Doctorow • • •Drey
in reply to Cory Doctorow • • •Steve Holden
in reply to Cory Doctorow • • •😆
There is such a thing as too much computing power. People are in such a rush nowadays. Well, the greedy ones are, anyway.
As a 60-year observer of this increasingly insane industry I fear they are in the spiral arm of a whirlpool whose efflux will pollute the economy for decades.