Outside Nvidia. The shovel users are not making money.
The AI revolution has achieved something truly unprecedented: billions in spending, endless executive keynotes, and no measurable payoff for most businesses. Apparently the killer app was convincing CEOs to transfer their budgets to seven tech companies: »Revenue per worker is rising for the Mag 7 but is flat for the S&P 493.«
I see this as a potentially GOOD thing. All those companies who dove in headfirst are gonna come out of it significantly weakened, while those wise enough to take a more measured approach will get the opportunity to take the leadership positions they probably deserve (at least more than those others). If nothing else, there might be more competition after all this.
Let’s not forget the endgame of decimating home computing.
It’s also a joke how poorly most companies are adopting AI. For many companies there have been meaningful improvements in software over the last few years that have been ignored completely and suddenly these same companies want to step over a bunch of stairs at once (insert meme) and do AI-buzzword-everything.
It doesn’t work like that
Professional grifter finds new grift not sufficiently contributing to grift counter.
I’d argue that most tech companies aren’t actually seeing benefit matching what they’ve wasted ineffectively
Productivity isn’t where most businesses are going to strike pay dirt. They’re going to get their value in processing information and in prototyping ideas/products/solutions before actually physically making them.
So the article may be absolutely true and completely missing the point.
It’s even funnier when consumers adopt AI agents to get refunds, move money around to high yield accounts, find deals and coupons and companies panic when it works.
It’s already happening and wastes a tremendous amount of time. In a sea of bullshit slop there might be one (1) claim that’s actually valid and might land you in deep legal trouble if not addressed. As usual small business are the most vulnerable to this.
