Investors are piling into equities not because they are bullish on corporate profits, but because traditional safe havens have become unreliable. This "There Is No Alternative" (TINA) scenario, where buying is driven by a lack of options rather than fundamentals, is a classic precondition for an asset bubble and potential crash.
Contrary to popular belief, AI models provide minimal help to inexperienced individuals in complex biological tasks. The real danger lies in their ability to "uplift" those with advanced degrees, like a PhD in molecular biology, giving them the capabilities of a large, expert research team.
Simple refusal mechanisms in AI models are easily bypassed by motivated actors. Effective biosecurity requires deeper interventions, such as curating training data to exclude sensitive biological information or implementing strict access controls for the most powerful models, ensuring they aren't publicly available.
In the current market, assets historically considered safe are failing to provide stability. Gold's price was already high, causing it to fall with stocks. The US dollar is flat. Government bonds are undermined by inflation fears and massive government borrowing, making them an unreliable refuge during crises.