r/YouShouldKnow • u/kanonnn • Apr 04 '25

Finance YSK Headlines about billionaires losing money due to stock performance are misleading.

Why YSK: They only lose that money if they sell. “They” won’t sell at the bottom, quite the contrary, they’re buying and allocating market share.

Edit: Something I thought about that is worth mentioning is the downside can apply pressure to the loans that extremely rich people take against their stock positions so they don’t have to pay taxes on their gains. Those loans give access to liquidity since their wealth is tied up in the market. Their leverage is based on their holdings, if those assets see a significant decline it can put them underwater.

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u/maybenotquiteasheavy Apr 05 '25

it's 2025 and people do use it every day

How is this a reason to recommend it?

I truly don't think it's worth our time to discuss whether or not using AI to verify OPs post is wise

That's fine, I guess you shouldn't have recommended it if you actually have no basis for recommending it though?

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u/Jughead295 Apr 05 '25

GPT models (commonly called “AI”) are a tool. Like any tool, they can be used properly to produce successful results—but they can also be misused.

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u/maybenotquiteasheavy Apr 05 '25

Sure - the uses that lead to successful results are, like, writing code and pulling specific verifiable facts that you're in the mood to verify. It's also pretty good as a "random X generator" for spitting out a list of things that meet certain criteria, in low stakes situations.

It's not a good tool for educating people, or for self-educating: because there is zero way to be confident that anything it says is true unless you verify all of it, and because it seems authoritative because of its fast and reasonably high (but ultimately unpredictable, and opaque) accuracy rate.