A.I. Riches Fuel Economic Divide in Asia’s Chip Powerhouses

kept by eddie jun 25

Rising AI demand boosts stock markets and exports in South Korea and Taiwan, but widens economic inequality by excluding most other sectors.

The hottest stock market in the world has doubled this year. And Goldman Sachs sees another 40% gain from here. - MarketWatch
Goldman Sachs raised South Korea's Kospi index target to 12,000, forecasting another 40% gain driven by the semiconductor cycle that it says markets still underestimate.
also on #asia, #economy
South Korea Has a Coffee Shop Problem - The New York Times
South Korea's coffee shop market is saturated with low-margin businesses, yet aspirational entrepreneurs continue opening new ones despite poor financial returns.
also on South Korea, #economy
The haves and have nots of the AI gold rush
A Menlo Ventures partner says the AI boom has created a stark divide where roughly 10,000 people have achieved retirement wealth while many software engineers face layoffs and career uncertainty.
also on #inequality, #economy, #ai
Surely the crash of the US economy has to be soon
Hacker News commenters debate whether a US economic crash is imminent, citing an AI investment bubble, distorted unemployment data, and deepening wealth inequality as key warning signs.
also on #inequality, #economy, #ai