No one with a small 401k is able to invest in OpenAI/Anthropic/etc. The people investing in those companies can afford to lose their investments.
reply"small" 401ks are usually made up of mutual funds. Those funds are run by investment banks (think Fidelity or JP Morgan) and they *absolutely* invest in companies like OpenAI and Anthropic. Your average middle class worker has investment money tied up in these crooks, but probably indirectly. When they piss away that money, it's not just rich jerks that are holding the bag.
reply401ks are run by investment banks and investment banks invest in OpenAI/Anthropic, but those aren't the same parts of the company in any meaningful way. The 401ks are in public companies or bonds.
replyYeah, but those public companies are going to include the so called magnificent seven, so unless they're really really careful, there's still a ton of exposure in their 401k to AI if you think it's a bubble that's going to pop.
replydeleted
replyWhich is why they are desperate to IPO
reply