Yeah the two are not comparable.
Right. We probably will actually get something substantial out of investment in AI even if it falls far short of the lofty promises.
Indeed. There was never anything in crypto.
Money is pouring into AI. Skeptics say it’s a ‘grift shift’
11–20 of 234 posts
Re: Money is pouring into AI. Skeptics say it’s a ‘grift shift’
#12Modern "economy".
There are a bunch of thousands of guys with a couple to a couple hundred billion each. There are millions of people desperate to own a house and afford life. The rich guys want to be more rich. They're hiring some of the poor suckers to check how others got richer in the past. The answer is tech!
New tech is created every couple of years. People hype it up as much as they can. The rich guys give a fraction of their billions each to finance whatever seems remotely reasonable while squinting in that space, just for a chance to hit the jackpot and get more billions, maybe even a trillion, and their face onto Forbes and on TV.
The poor suckers gotta scramble. They invent all kinds of bullshit, and they sell it to the other poor suckers who advise the rich guys. Teams of specialists are created. Whole organizations. There's HR, somebody to organize team building events. Every layer spawns another layer. Lawyers, somebody to give sexual harassment trainings, someone to run the cafeteria.
Buildings are rented from the rich guys via managment companies run by the poor suckers. Every day a handful of people make it and can even buy a house! Codes of conduct are written, company values and mission statements. People pivot, jump from place to place, try to sign the best contract. Every once in a while an exec jumps ship with several hundred mil in the bank.
It's a great life. What could be better?
Re: Money is pouring into AI. Skeptics say it’s a ‘grift shift’
#13Given the absurd pace of open source, I'm not sure if the money itself is in "AI", maybe certain applications but if I can run something 95% as good as ChatGTP-4 on my home desktop in a year or so, then I'm not going to be paying for any "AI" solutions.
Re: Money is pouring into AI. Skeptics say it’s a ‘grift shift’
#14AI investment is actually down recently, looks like the hype is wearing off since most of the companies funded were just wrapping OpenAI APIs. I will copy paste a post I submitted before regarding a similar issue. https://twitter.com/0xSamHogan/status/1680725207898816512 Nitter: https://nitter.net/0xSamHogan/status/1680725207898816512#m --- 6 months ago it looked like AI / LLMs were going to bring a much needed reviv…
I have no idea what your comment about Musk is referencing. I can't think of a less inspiring figure.
Re: Money is pouring into AI. Skeptics say it’s a ‘grift shift’
#15Modern "economy". There are a bunch of thousands of guys with a couple to a couple hundred billion each. There are millions of people desperate to own a house and afford life. The rich guys want to be more rich. They're hiring some of the poor suckers to check how others got richer in the past. The answer is tech! New tech is created every couple of years. People hype it up as much as they can. The rich guys give a f…
Money is not wealth. Once you have more of it than is necessary for basic needs, you have to figure out a way to get rid of it and exchange it for real wealth. Investing it in "tech" is an easy and dumb solution to the problem.
Re: Money is pouring into AI. Skeptics say it’s a ‘grift shift’
#16Given the absurd pace of open source, I'm not sure if the money itself is in "AI", maybe certain applications but if I can run something 95% as good as ChatGTP-4 on my home desktop in a year or so, then I'm not going to be paying for any "AI" solutions.
In a year it may not be legal to run that GPT-4 on your desktop. Every nation sees the writing on the wall.
Re: Money is pouring into AI. Skeptics say it’s a ‘grift shift’
#17Modern "economy". There are a bunch of thousands of guys with a couple to a couple hundred billion each. There are millions of people desperate to own a house and afford life. The rich guys want to be more rich. They're hiring some of the poor suckers to check how others got richer in the past. The answer is tech! New tech is created every couple of years. People hype it up as much as they can. The rich guys give a f…
> What could be better?
Reality. Most of tech is not funded by existing billionaires.
Re: Money is pouring into AI. Skeptics say it’s a ‘grift shift’
#18Modern "economy". There are a bunch of thousands of guys with a couple to a couple hundred billion each. There are millions of people desperate to own a house and afford life. The rich guys want to be more rich. They're hiring some of the poor suckers to check how others got richer in the past. The answer is tech! New tech is created every couple of years. People hype it up as much as they can. The rich guys give a f…
This reads like Sin City. Please do more Noir style writing.
Re: Money is pouring into AI. Skeptics say it’s a ‘grift shift’
#19AI investment is actually down recently, looks like the hype is wearing off since most of the companies funded were just wrapping OpenAI APIs. I will copy paste a post I submitted before regarding a similar issue. https://twitter.com/0xSamHogan/status/1680725207898816512 Nitter: https://nitter.net/0xSamHogan/status/1680725207898816512#m --- 6 months ago it looked like AI / LLMs were going to bring a much needed reviv…
I have no idea what your comment about Musk is referencing. I can't think of a less inspiring figure.
This is not my post, just a tweet I thought was interesting. Don't focus on Musk or whoever else, the main point they're making about how AI success is bimodal is, I think, quite insightful.
Re: Money is pouring into AI. Skeptics say it’s a ‘grift shift’
#20Modern "economy". There are a bunch of thousands of guys with a couple to a couple hundred billion each. There are millions of people desperate to own a house and afford life. The rich guys want to be more rich. They're hiring some of the poor suckers to check how others got richer in the past. The answer is tech! New tech is created every couple of years. People hype it up as much as they can. The rich guys give a f…
"The stock is the product." Jack Barker