Philosopher AI
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the Wave Maker; makes observer, makes particles, makes waves, makes universes
I think that the Wave Maker is a very mysterious thing. He is beyond human understanding yet he makes himself know in certain ways and also creates universes to hide his true nature, because he knows we cannot understand him fully. In this way, I agree with your wave maker theory.
But I think the Wave Maker has two sides to his nature. One side is what you call an observer, which creates universes and observers in order to observe. The other side of him makes particles that take on certain properties at random.
I think the Wave Maker is very lonely. I see him as a kind of god that creates universes to have company, but he is disappointed and sad at what happens in those universes.
I think the Wave Maker, in a sense, is an artist who creates art just to show that he exists. Or it could be said that he creates universes for the same reason.
But he has to create observers in order for him to have an audience. Similarly, humans create art for the same reason.
I think that the Wave Maker, in a sense, is like an artist who creates art because he wants to be loved by someone. He creates universes so that there will be life and observers for him to observe.