Nothing would give me a nicer feeling of schadenfreude than to see Meta, Google, and these other frothing-at-the-mouth AI hucksters take a bath on their bets.
Mark Zuckerberg freezes AI hiring amid bubble fears
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Re: Mark Zuckerberg freezes AI hiring amid bubble fears
#42Maybe this time investors will realize how incompetent these leaders are? How do you go from 250mil contracts to freezes in under a month?
IMHO Mark Zuckerberg is a textbook case of someone who got lucky once by basically being in the right place at the right time, but who attributes his success to his skill. There’s probably a proper term for this.
Re: Mark Zuckerberg freezes AI hiring amid bubble fears
#43Re: Mark Zuckerberg freezes AI hiring amid bubble fears
#44I just did a phone screen with Meta, and the interviewer asked for Euclidean distance between two points; they definitely have some nerds in the building.
They actually need to know so that they can train Llama.
Re: Mark Zuckerberg freezes AI hiring amid bubble fears
#45Maybe this time investors will realize how incompetent these leaders are? How do you go from 250mil contracts to freezes in under a month?
IMHO Mark Zuckerberg is a textbook case of someone who got lucky once by basically being in the right place at the right time, but who attributes his success to his skill. There’s probably a proper term for this.
To be fair, buying Instagram so early + WhatsApp were great moves too.
Re: Mark Zuckerberg freezes AI hiring amid bubble fears
#46as an outsider, what I find the most impressive is how long it took for people to realize this was a bubble. Has been for a few years now.
From the Big Short: Lawrence Fields: "Actually, no one can see a bubble. That's what makes it a bubble." Michael Burry: "That's dumb, Lawrence. There are always markers."
Ah Michael Burry, the man who has predicted 18 of our last 2 bubbles. Classic broken clock being right, and in a way, perfectly validates the "no one can see a bubble" claim!
If Burry could actually see a bubble/crash, he wouldn't be wrong about them 95%+ of the time... (He actually missed the covid crash as well, which is pretty shocking considering his reputation and claims!)
Ultimately, hindsight is 20/20 and understanding whether or not "the markers" will lead to a major economic event or not is impossible, just like timing the market and picking stocks. At scale, it's impossible.
Re: Mark Zuckerberg freezes AI hiring amid bubble fears
#47> Sam Altman, OpenAI’s chief executive, has compared hype around AI to the dotcom bubble at the turn of the century Sam is the main one driving the hype, that's rich...
But then, he's purposely comparing it to the .com bubble - that bubble had some underlying merit. He could compare it to NFTs, the metaverse, the South Sea Company. It wouldn't make sense for him to say it's not a bubble when it's patently clear, so he picks his bubble.
Re: Mark Zuckerberg freezes AI hiring amid bubble fears
#48Re: Mark Zuckerberg freezes AI hiring amid bubble fears
#49Maybe this time investors will realize how incompetent these leaders are? How do you go from 250mil contracts to freezes in under a month?
IMHO Mark Zuckerberg is a textbook case of someone who got lucky once by basically being in the right place at the right time, but who attributes his success to his skill. There’s probably a proper term for this.
The term you're looking for is "billionaire". The amount of serendipity in these guys' lives is truly baffling, and only becomes more apparent the more you dig. It makes sense when you realize their fame is all survivorship bias. Afer all, there must be someone at the tail end of the bell curve.
Re: Mark Zuckerberg freezes AI hiring amid bubble fears
#50What I don't get is that they are gunning for the people that brought us the innovations we are working with right now. How often does it happen that someone really strikes gold a second time in research at such a high level? It's not a sport.
Even if they do not strike gold the second time, there can still be a multitude of reasons:
1. The innovators will know a lot about the details, limitations and potential improvements concerning the thing they invented.
2. Having a big name in your research team will attract other people to work with you.
3. I assume the people who discovered something still have a higher chance to discover something big compared to "average" researchers.
4. That person will not be hired by your competition.