Was in a company wide meeting yesterday. The cto was talking about OpenAI being too big to fail.
I have a take on that. I’m going with hank green on this one. https://youtu.be/jOR4wuiPeEQ
The entire US economy is being held up by the ultra-wealthy right now. We should be in a recession, but they’re pushing all the right buttons in all the right places to keep stocks where they need to be to keep running.
The AI bubble isn’t blindly bobbing around on the top waiting to pop, it’s orchestrated. Yes, it’s a bubble. Yes the stated value there isn’t anywhere near real. But it’s not going to pop until they let it. Investors are going to stay with it as long as they’re not scared of it going away and the ultra rich are using it as a vehicle to maintain wealth and unless they somehow screw up, it’s not going anywhere until they decide to do something different.
OpenAI isn’t too big to fail, but the Industry as a whole is too well-funded and tightly controlled to let it fail, for now.
Ah so a market upset the rich control the timing for, virtually indistinguishable from a bubble unless you’re holding all the cards, amazing analysis by HanK Green.
2008 called. They want their huge bailouts back.
The big guys will be fine. Your 401(k)? Fucked.
OpenAI is small fry compared to the other AI players. They are the least likely to get a bailout.
This is actually a moment where “Thanks Obama” applies, what a precedence to set… Should have given the relief on the demand-side, not the fucking banks.
You have unleashed the cursed gif upon us
I closed my eyes and visualized AI execs in the cab when it hits.
It was beautiful.
https://youtu.be/HAkCypsQIQk this video has the ending if anyone is cursed by this gif
How nice to make the entire driver’s seat a crumple zone.
The tech bros have been disastrously wrong about the future of technology twice since Moore’s Law broke and the endless treadmill of computer upgrades stopped: about crypto and about the metaverse. They’re desperate to not be wrong again, and they think that by spending enough money they can generate a reality distortion field that actually makes overhyped AI financially feasible. So they’re going to keep pumping the money in as long as they’ve got it. But even their wallets are finite.
I fear it never will, because I suspect whoever is pushing for all of this dissident tracking on the Internet is propping it up with dark money.
The people in charge of these companies already have all the money
The US can always print more money.
“We are 20 years away from Fusion Reactors”
– Scientists 60 years ago.
“We are 20 years away from Fusion if we get X amount of money”
– Scientists right before recieving less than 1% of X amount of money.I’m no scientist, but i’m pretty sure there’s a giant fusion reactor in the sky. I think it’s called The Sun or something like that.
Also known as a deadly laser
This annoyingly bright object in the sky is a giant fusion reaction, but not a fusion reactor
It’s a lil bit of both
There is no incentive to invest into Fusion technology, as it would make crude oil, coal, rare earths, other rate metals and minerals lose a lot of value. The graph you show is still very interesting and I never saw that before, so thank you for sharing.
Edging me fr fr
AI has the momentum only from investors and banks. But unfortunately, the paying customers are few and far between. Also, don’t forget that these companies are losing money even on the paying customers. There doesn’t seem to be any path to profitability for these companies. So, no wonder everyone is saying it’s a bubble.
I thought it was also considered a bubble because so much money has been invested in all those projects now that couldn’t possibly return any revenue in 100 years or so.
It’s even worse than that, because the more users they have the more expensive the tools are to run. It’s the opposite of how economy of scale is supposed to work. I forget the exact numbers but apparently for every dollar they make they lose 2 or 3x that.
Every new iteration of their models is also exponentially more expensive to run. They desperately need the output to improve because of how inconsistent it is, but doing that only increases the money hemorrhage.
There’s basically no way out from what I’ve been reading about it.
Exactly.
Still waiting for that crypto pop. It seems less relevant nowadays, but judging by Bitcoin’s current price, it hasn’t quite popped.
Sure hope my GPU is built to last.
It’s an ongoing scam for the ultra wealthy and Tech Bro influencer con artists.
That’s not an exaggeration. That’s what it is.
Hence, it will keep going as long as it keeps getting boosted across media.
It’s inevitable; Bitcoin has already popped like a dozen times now.
The sad thing is that when it bursts it won’t do it in a hilarious “billionaires all get shafted” way like it didn’t any of the previous times. It’s far more likely to take the form of the most powerful AIs suddenly only being accessible to the wealthy.
The lead-up is a bit long, yeah.
But the crash at the end is worth the wait.This would have been the time to use the version with an actual ending.
Lemmy users waiting for AI to stop working because it’ll start training on AI generated content
I’m getting real sick of the headlines. “Science company says AI will be used to Re-Write the human genome, and identify future Terrorists for the CIA with only random lists of birth certificates, while it designs a 3D printable human heart that has built in wifi controls with 100% police access!”
