"We did it, Patrick! We made a technological breakthrough!"
A place for all those who loathe AI to discuss things, post articles, and ridicule the AI hype. Proud supporter of working people. And proud booer of SXSW 2024.
AI, in this case, refers to LLMs, GPT technology, and anything listed as "AI" meant to increase market valuations.
Surely it's Good, Actually™️, that all available capital is being funneled into a single technology that makes no money and demands more infrastructure than God. Surely nothing will go wrong!
You misunderstand. The bet is not on AI at this point. It’s on government money printing and bailouts that will come if investors commit hard enough to failure.
Of course, there will always be CEOs high off their own farts.
The problem with the bailout theory is it only works once. If they get bailed out, and then IMMEDIATELY crash things again, the government has no incentive to bail them out again because clearly it didn't work. So, either way, it ends in abysmal failure and collapse. Also, who do they bail out? None of these AI companies make money on anything, and the datacenters burn cash so fast it makes your head spin. Jensen Huang? NVIDIA? They don't need it, they've been profitable from the start. Same with Microslop and the other hyperscalers. So, no, a bailout is unlikely, to say the least.
it ends with dead poor people. that is 1000000000% certain.
Oh it’s already killing poor people but that’s certainly not enough to end it
I was going to say dead people in general, but yes, the poor will almost certainly die.
Let the Oroborous engulf itself
Ed Zitron said there's not much venture capital left to keep this circus running. When is that going to happen?
Sometime this year, at current burn rates. But if they speed up their spending, sooner.
Right before midterm elections pretty please. Like 3 weeks before would be perfect. A massive crash with the normal support network in disarray from their stupidity. Triggering a 10 year long depression with up to 25% unemployment.
You know what happened after the last long lasting serious depression? FDR's new deal - union rights, workers rights, social security, corporate regulations and all the other silly things that led to massive enlargement of the middle class at the expense of the extremely wealthy.
Never underestimate the willingness to keep the scam going further. An interest rate cut might well extend the whole charade into 2027.
If they prime the bulb on this bubble long enough, everyone but the super rich will suffer, which I think is the point.
Totally not a bubble at all!
At Torment Nexus Incorporated, we’re currently raising a $100m Series A at a $500m valuation.
ITT: People not understanding what venture capital is.
(Because I know none of you fuckers will look it up.
Venture capital (VC) is a form of private equity financing provided by firms or funds to startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in terms of number of employees, annual revenue, scale of operations, etc. Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake. Venture capitalists take on the risk of financing start-ups in the hopes that some of the companies they support will become successful. Because startups face high uncertainty,[1] VC investments have high rates of failure. Start-ups are usually based on an innovative technology or business model and often come from high technology industries such as information technology (IT) or biotechnology.(Wikipedia))
Basically, Shark Tank but with no background music