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Mark Zuckerberg freezes AI hiring amid bubble fears

telegraph.co.uk

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Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#281

Post by miki123211 »

jocaal wrote: post #243
torginus wrote: post #228

Earlier quoted context omitted.

It boggles the mind that this kind of management is what it takes to create one of the most valuable companies in the world (and becoming one of the world's richest in the process).

Past a certain point, skill doesn't contribute to the magnitude of success and it becomes all luck. There are plenty of smart people on earth, but there can only be 1 founder of facebook.

I view success as the product of three factors, luck, skill and hard work.

If any of these is 0, you fail, regardless of how high the other two are. Extraordinary success needs all three to be extremely high.

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#282

Post by Starman_Jones »

TrackerFF wrote: post #53

I really do wonder if any of those rock star $100m++ hires managed to get a 9-figure sign-on bonus, or if the majority have year(s) long performance clauses. Imagine being paid generational wealth, and then the house of cards comes crashing down a couple of months later.

"The New Orleans Saints have signed Taysom Hill to a record $40M contract"

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#283

Post by NickC25 »

PhantomHour wrote: post #269
torginus wrote: post #228

Earlier quoted context omitted.

It boggles the mind that this kind of management is what it takes to create one of the most valuable companies in the world (and becoming one of the world's richest in the process).

The answer is fairly straightforward. It's fraud, and lots of it. A honest businessman wouldn't put their company into a stock bubble like this. Zuckerberg runs his mouth and tells investors what they want to hear, even if it's unbacked. A honest businessman would never have gotten Facebook this valuable because so much of the value is derived from ad-fraud that Facebook is both party to and knows about. A honest bus…

As I've said in other comments - expecting honesty and ethical behavior from Mark Zuckerberg is a fool's errand at best. He has unchecked power and cannot be voted out by shareholders.

He will say whatever he wants and because the returns have been pretty decent so far, people will just take his word for it. There's not enough class A shares to actually force his hand to do anything he doesn't want to do.

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#284

Post by _Algernon_ »

torginus wrote: post #228
alsetmusic wrote: post #191

It almost seems as though the record-setting bonuses they were dolling out to hire the top minds in AI might have been a little shortsighted. A couple of years ago, I asked a financial investment person about AI as a trick question. She did well by recommending investing in companies that invest in AI (like MS) but who had other profitable businesses (like Azure). I was waiting for her to put her foot in her mouth an…

It boggles the mind that this kind of management is what it takes to create one of the most valuable companies in the world (and becoming one of the world's richest in the process).

You should read Careless People if this boggles your mind.

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#285

Post by hearsathought »

alsetmusic wrote: post #191

It almost seems as though the record-setting bonuses they were dolling out to hire the top minds in AI might have been a little shortsighted. A couple of years ago, I asked a financial investment person about AI as a trick question. She did well by recommending investing in companies that invest in AI (like MS) but who had other profitable businesses (like Azure). I was waiting for her to put her foot in her mouth an…

> It almost seems as though the record-setting bonuses they were dolling out to hire the top minds in AI might have been a little shortsighted.

If AI is going to be integral to society going forward, how is it shortsighted?

> She did well by recommending investing in companies that invest in AI (like MS) but who had other profitable businesses (like Azure).

So you prefer a 2x gain rather than 10X gain from the likes of Nvidia or Broadcom? You should check how much better META has done compared to MSFT the past few years. Also a "financial investment person"? The anecdote feels made up.

> She skillfully navigated the question in a way that won my respect.

She won your respect by giving you advice that led to far less returns than you could have gotten otherwise?

> I personally believe that a lot of investment money is going to evaporate before the market resets.

But you believe investing in MSFT was a better AI play than going with the "hype" even when objective facts show otherwise. Why should any care what you think about AI, investments and the market when you clearly know nothing about it?

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#287

Post by crims0n »

bilsbie wrote: post #271

I’ve never seen so much evidence for a bubble yet so much potential to be the biggest Thing ever. Just getting a lot of mixed signals right now. Not sure what to think.

Dot-com was the same way... the Internet did end up having the potential everyone thought it would, businesses just didn't handle the influx of investment well.

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#288

Post by skeezyboy »

estearum wrote: post #267
vovavili wrote: post #253

Earlier quoted context omitted.

Plenty of smart people prefer not to try their luck, though. A smart but risk-avoidant person will never be the one to create Facebook either.

Plenty of them do try and fail, and then one succeeds, and it doesn't mean that person is intrinsically smarter/wiser/better/etc than the others. There are far, far more external factors on a business's success than internal ones, especially early on.

for instance if that social network film by david fincher hadnt come out, would we have even heard of this mark guy?

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#290

Post by benterix »

torginus wrote: post #228
alsetmusic wrote: post #191

It almost seems as though the record-setting bonuses they were dolling out to hire the top minds in AI might have been a little shortsighted. A couple of years ago, I asked a financial investment person about AI as a trick question. She did well by recommending investing in companies that invest in AI (like MS) but who had other profitable businesses (like Azure). I was waiting for her to put her foot in her mouth an…

It boggles the mind that this kind of management is what it takes to create one of the most valuable companies in the world (and becoming one of the world's richest in the process).

It's a cliche but people really underestimate and try to downplay the role of luck[0].

[0] https://www.scientificamerican.com/blog/beautiful-minds/the-...

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