Duh… it’s just the next buzzword grift… blockchain, nft, AI… yes each one has a niche of a place but they’re not world changers people were making them out to be, just those were were trying to ride the bubble and get their money before it pops.
The main difference I see is that blockchain and nfts never really made a huge splash in large corporations. Now we have the S&P 500 dominated primarily by tech companies that are dumping billions into AI and telling investors it will turn all their fantasies into reality. I don’t remember bitcoin ever motivating this level of institutional bedlam.
When those tech companies fail to breakeven on their ai initiatives, I think the deflating of the ai bubble may just trigger a major recession. Look at any target year retirement fund and Microsoft, Amazon, Meta, Alphabet, NVidia, Apple are all insanely large portions of the fund holdings.
I personally think all those companies have enough cash and revenues (not tied to “AI” pitches) that we don’t have to worry about a US recession (with consequences for the the rest of us), but I could be wrong.
But one does wonder what happened to (US) corporate governance laws where such actions can be taken with no worry.
I really don’t think they will. I know AI has some value because I use it often, but I really doubt it has that much value
If limits on true intelligence are not overcome, it does seem like it’s reaching the state of a commodity. Just a competent enough level of service expected from any LLM.
Nah we just fire 50% more worker. Problem solved.
Maybe if tech companies didn’t put strangleholds on their markets they’d have better ideas of what people want.
The thing people aren’t talking about enough is the depreciation of all the GPU hardware. The $10B Microsoft spends on Azure GPU hardware may bring in only $5B in revenue, but they get to write off the cost against their taxes.
