Doom doesn’t imply that everyone believes in doom before it happens.
Do you think that the evidence for doom will be more obvious than the evidence for atheism, while the world is not yet destroyed?
It’s quite possible for doom to happen, and most people to have no clue beyond one article with a picture of red glowing eyed robots.
If everyone does believe in doom, there might be a bit of spending on consumption. But there will also be lots of riots, lots of lynching and burning down data centers and stuff like that.
In this bizarre hypothetical where everyone believes doom is coming soon and starts enjoying their money while they can, then society is starting to fall apart, and the price of luxuries is through the roof. Your opportunities to enjoy the money will be limited.
Rob Miles also makes the point that if you expect people to accurately model the incoming doom, you should have a low p(doom). At the very least, worlds in which humanity is switched-on enough (and the AI takeover is slow enough) for both markets to crash and the world to have enough social order for your bet to come through are much more likely to survive.
If enough people are selling assets to buy cocaine for the market to crash, either the AI takeover is remarkably slow indeed (comparable to a normal human-human war) or public opinion is so doomy pre-takeover that there would be enough political will to “assertively” shut down the datacenters.
Theoretically, if everybody starts to believe in doom, they sell their assets to spend on consumption, so market crashes and shorts pay off.
Problems with that.
Doom doesn’t imply that everyone believes in doom before it happens.
Do you think that the evidence for doom will be more obvious than the evidence for atheism, while the world is not yet destroyed?
It’s quite possible for doom to happen, and most people to have no clue beyond one article with a picture of red glowing eyed robots.
If everyone does believe in doom, there might be a bit of spending on consumption. But there will also be lots of riots, lots of lynching and burning down data centers and stuff like that.
In this bizarre hypothetical where everyone believes doom is coming soon and starts enjoying their money while they can, then society is starting to fall apart, and the price of luxuries is through the roof. Your opportunities to enjoy the money will be limited.
I agree with your point! That’s why I started with the word “theoretically”.
Rob Miles also makes the point that if you expect people to accurately model the incoming doom, you should have a low p(doom). At the very least, worlds in which humanity is switched-on enough (and the AI takeover is slow enough) for both markets to crash and the world to have enough social order for your bet to come through are much more likely to survive. If enough people are selling assets to buy cocaine for the market to crash, either the AI takeover is remarkably slow indeed (comparable to a normal human-human war) or public opinion is so doomy pre-takeover that there would be enough political will to “assertively” shut down the datacenters.