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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

#591

Post by ProjectArcturis »

frmersdog wrote: post #558
KerrAvon wrote: post #476

Earlier quoted context omitted.

It wasn't possible for them to be well managed at the time it mattered. Sears was loaded with debt by private equity ghouls; same story for almost all defunct brick and mortar businesses; Amazon was a factor, but private equity is what actually destroyed them.

And, knowing Jeff Bezos' private equity origins, one could be forgiven for entertaining the thought that none of this was an accident. Just don't be an idiot and, you know, give voice to that thought or anything.

Are you suggesting that Jeff Bezos somehow convinced all his PE buddies to tank Sears (and their own loans to it) in order for him to build Amazon with less competition? Because, well, no offense, but that seems like a remarkably naive understanding of capital markets and individual motivations. Especially when it's well documented how Eddie Lampert's libertarian beliefs caused him to run it into the ground.

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#593

Post by kgwgk »

ipnon wrote: post #289
Hilift wrote: post #215

META has only made $78.7 billion operating income in the past 12 months of returns. Time to buckle up! https://finance.yahoo.com/quote/META/financials/

It's really difficult to wrap one's head around the cash they're able to deploy.

They “deploy” much more than what they generate.

Their cash position has gone from $44bn to $12bn in the first six months of the year and are now getting other people to pay for datacenters https://www.reuters.com/business/meta-taps-pimco-blue-owl-29...

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#594

Post by zero_shift »

dgs_sgd wrote: post #474
PhantomHour wrote: post #269

Earlier quoted context omitted.

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…

What is a good resource to read about the ad fraud? This is the first I'm hearing of that.

I used to work in adtech. I don't have any direct information but, I assume this relates to the persistent rumours that Facebook inflates impressions and turns a blind eye to bot activity.

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#595

Post by [deleted] »

jiveturkey wrote: post #540
seu wrote: post #422

These changes in direction (spending billions, freezing hiring) over just a few months show that these people are as clueless as to what's going to happen with AI, as everyone else. They just have the billions and therefore dictate where money goes, but that's it.

you think folks that have experience managing this much money/resources (unlike yourself) are clueless? more likely it's 4D chess.

[deleted]

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#596

Post by jamwil »

jiveturkey wrote: post #540
seu wrote: post #422

These changes in direction (spending billions, freezing hiring) over just a few months show that these people are as clueless as to what's going to happen with AI, as everyone else. They just have the billions and therefore dictate where money goes, but that's it.

you think folks that have experience managing this much money/resources (unlike yourself) are clueless? more likely it's 4D chess.

Just like the metaverse?

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#597

Post by [deleted] »

deegles wrote: post #523
miki123211 wrote: post #276

Earlier quoted context omitted.

I have an overwhelming feeling that what we're trying to do here is "Netflix over DialUp." We're clearly seeing what AI will eventually be able to do, just like many VOD, smartphone and grocery delivery companies of the 90s did with the internet. The groundwork has been laid, and it's not too hard to see the shape of things to come. This tech, however, is still far too immature for a lot of use cases. There's enough…

> We're clearly seeing what AI will eventually be able to do Are we though? Aside from a narrow set of tasks like translation, grammar, and tone-shifting, LLMs are a dead end. Code generation sucks. Agents suck. They still hallucinate. If you wouldn't trust its medical advice without review from an actual doctor, why would you trust its advice on anything else? Also, the companies trying to "fix" issues with LLMs wit…

[deleted]

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#598

Post by cyanydeez »

bryanlarsen wrote: post #313
miki123211 wrote: post #276

Earlier quoted context omitted.

I have an overwhelming feeling that what we're trying to do here is "Netflix over DialUp." We're clearly seeing what AI will eventually be able to do, just like many VOD, smartphone and grocery delivery companies of the 90s did with the internet. The groundwork has been laid, and it's not too hard to see the shape of things to come. This tech, however, is still far too immature for a lot of use cases. There's enough…

Some people even figured it out in the 80's. Sears founded and ran Prodigy, a large BBS and eventually ISP. They were trying to set themselves up to become Amazon. Not only that, Prodigy's thing (for a while) was using advertising revenue to lower subscription prices. Your "Netflix over dialup" analogy is more accessible to this readership, but Sears+Prodigy is my favorite example of trying to make the future happen…

the problem is ISP became a Utility, not some fountain of unlimited growth.

What you're arguing is that AI is fundamentally going to be a utility, and while that's worth a floor of cash, it's not what investors or the market clamor for.

I agree though, it's fundamentally a utility, which means theres more value in proper government authority than private interests.

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#599

Post by lajetl »

gusfoo wrote: post #577

A trillion dollars of value disappearing in 2 days. We've still got our NFT metaverse shipping waybill project going on somewhere in the org chart, right? Phew!

That's because it was never real to begin with. "Market cap" and "value" are not the same thing. "Value" is "I actually need this and it will dramatically improve my life". "Market cap" is "I can sell this to some idiot".

Re: Mark Zuckerberg freezes AI hiring amid bubble fears

#600

Post by gcanyon »

tombert wrote: post #376
bryanlarsen wrote: post #313

Earlier quoted context omitted.

Some people even figured it out in the 80's. Sears founded and ran Prodigy, a large BBS and eventually ISP. They were trying to set themselves up to become Amazon. Not only that, Prodigy's thing (for a while) was using advertising revenue to lower subscription prices. Your "Netflix over dialup" analogy is more accessible to this readership, but Sears+Prodigy is my favorite example of trying to make the future happen…

Today I learned that Sears founded Prodigy! Amazing how far that company has fallen; they were sort of a force to be reckoned with in the 70's and 80's with Craftsman and Allstate and Discover and Kenmore and a bunch of other things, and now they're basically dead as far as I can tell.

:-) Then it's going to blow your mind that CompuServe (while not founded by them) was a product of H&R Block.
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