So, Nvidia are backstopping $100B for the Ohio project, yet at the same time OpenAI are developing their Jalapeño processor, which will mean it will no longer need Nvidia GPUs for inference. That does not really make any sense to me.
Nvidia Insists It Can Keep Printing Money to Fund the AI Boom
21–30 of 51 posts
Re: Nvidia Insists It Can Keep Printing Money to Fund the AI Boom
#22Earlier quoted context omitted.
That is the entire Marx's Das Kapital. The main argument being free market will lead to concentration of power and then capitalism collaspe. He expanded on what he thought the not-capitalism could be. Then Lenin concluded that if you will always have concentration of power and some folks doing centralized planning, it might well be the state.
Crazy how historically wrong Das Kapital is as a book. The labor theory of value has done enormous amounts of damage to humans world-wide with its lies. Watching Marx turn himself into pretzels to explain how to calculate the "Socially necessary labor time" is entertaining if it didn't have the baggage of motivating dozens of horrible, no good revolutions, useless, damaging revolutions. If you want a good starting po…
Until we have true AGI there is no value without labor. The shares of Amazon that make Bezos so rich would be worthless without the 1.5 million people working for it.
Re: Nvidia Insists It Can Keep Printing Money to Fund the AI Boom
#23Earlier quoted context omitted.
That is the entire Marx's Das Kapital. The main argument being free market will lead to concentration of power and then capitalism collaspe. He expanded on what he thought the not-capitalism could be. Then Lenin concluded that if you will always have concentration of power and some folks doing centralized planning, it might well be the state.
Crazy how historically wrong Das Kapital is as a book. The labor theory of value has done enormous amounts of damage to humans world-wide with its lies. Watching Marx turn himself into pretzels to explain how to calculate the "Socially necessary labor time" is entertaining if it didn't have the baggage of motivating dozens of horrible, no good revolutions, useless, damaging revolutions. If you want a good starting po…
That's certainly an opinion... Quite a lot of condemnation for no real argument. I personally think surplus value and socially necessary labor time are quite straightforward, intuitive concepts. Meanwhile, I found this tidbit on Henry George's wikipedia page: "Upon Marx's death, George admitted he has not read any of his works, which were untranslated into English at the time,"
For anyone interested in reading more from Marx's side, Wage Labour And Capital by Marx is a pamphlet meant for mass distribution and not a difficult read. I've heard A People's Guide To Capitalism recommended as a high quality modernized version of the same ideas.
Re: Nvidia Insists It Can Keep Printing Money to Fund the AI Boom
#24I have a theoretical question. At what point does capitalism become the other side of the coin from communism. Like there's communism which is centralized planning and the state owning the means of production. Then I think there's Adam Smiths ideal form of capitalism that I think can loosely be described as independent demand signals allocate resources throughout the economy. What happens when a capital accumulates i…
This observation is exactly the Marxist prediction of how capitalism gradually transforms society from early capitalism, which nearly fit the Econ 101 assumptions of many small producers and consumers and such, into something that operates economically more like communism by being centrally planned, but with the severe drawbacks of a minority ruling class and being run undemocratically on the basis of private profit not usefulness to people. This is an interesting book on the subject of how far we have come in this regard: https://en.wikipedia.org/wiki/The_People%27s_Republic_of_Wal...
Re: Nvidia Insists It Can Keep Printing Money to Fund the AI Boom
#25I have a theoretical question. At what point does capitalism become the other side of the coin from communism. Like there's communism which is centralized planning and the state owning the means of production. Then I think there's Adam Smiths ideal form of capitalism that I think can loosely be described as independent demand signals allocate resources throughout the economy. What happens when a capital accumulates i…
That doesn’t sound right. Silicon Valley is clearly responding to massive demand for AI services. The reason Nvidia has so much money is that people are paying them for something only they can make. It’s not like they’re issuing stock into a meme stock spike or something. They’re selling hardware that companies are demanding in large quantities because those companies need the hardware to provide services that people…
To what extent is it organic demand rather than manufactured demand? Clearly there's some demand for AI use but a lot of it has been shoved down people's throats with usage quotas, pushing it into every webpage and application, etc. To me it seems like there is a large degree of central dictate to use it pushed, at some level, by the perceived need to invest in it faster than China.
Re: Nvidia Insists It Can Keep Printing Money to Fund the AI Boom
#26I have a theoretical question. At what point does capitalism become the other side of the coin from communism. Like there's communism which is centralized planning and the state owning the means of production. Then I think there's Adam Smiths ideal form of capitalism that I think can loosely be described as independent demand signals allocate resources throughout the economy. What happens when a capital accumulates i…
The demand signals never allocated the resources, a small number of people always did. Those people react to the demand signals (and they still do). IMO a more important question is: what happens when the market power of a segment of society grows much greater than the rest? In a "K-shaped" economy, the top 20% have so much spending power (and even more future spending power) than their demand signals can overwhelm t…
Demand doesnt allocate resources... price and expected economic profit does.
Thats literally how the whole economic system functions.
Re: Nvidia Insists It Can Keep Printing Money to Fund the AI Boom
#27So, Nvidia are backstopping $100B for the Ohio project, yet at the same time OpenAI are developing their Jalapeño processor, which will mean it will no longer need Nvidia GPUs for inference. That does not really make any sense to me.
Even if Jalapeño is successful it will probably take multiple generations until it’s competitive.
Re: Nvidia Insists It Can Keep Printing Money to Fund the AI Boom
#28I have a theoretical question. At what point does capitalism become the other side of the coin from communism. Like there's communism which is centralized planning and the state owning the means of production. Then I think there's Adam Smiths ideal form of capitalism that I think can loosely be described as independent demand signals allocate resources throughout the economy. What happens when a capital accumulates i…
I have a theory that this issue happens because we put money into the stock market for our pension. This creates a concentration of wealth/money into a relatively few organizations. I think money and wealth should be created more locally. Of course, this is very idealistic and simplistic. However, what did people think was going to happen when the common wisdom is to put your money into an index and then shut up? It…
There are still active investors who decide which investments are good. The passive investors follow, for better or worse.
Re: Nvidia Insists It Can Keep Printing Money to Fund the AI Boom
#29Earlier quoted context omitted.
That doesn’t sound right. Silicon Valley is clearly responding to massive demand for AI services. The reason Nvidia has so much money is that people are paying them for something only they can make. It’s not like they’re issuing stock into a meme stock spike or something. They’re selling hardware that companies are demanding in large quantities because those companies need the hardware to provide services that people…
To what extent is it organic demand rather than manufactured demand? Clearly there's some demand for AI use but a lot of it has been shoved down people's throats with usage quotas, pushing it into every webpage and application, etc. To me it seems like there is a large degree of central dictate to use it pushed, at some level, by the perceived need to invest in it faster than China.
The usage quotas seem like a one- or two- quarter phenomenon at particular mismanaged organizations?
Re: Nvidia Insists It Can Keep Printing Money to Fund the AI Boom
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