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Jeff Bezos says AI is in a bubble but society will get 'gigantic' benefits

cnbc.com

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Re: Jeff Bezos says AI is in a bubble but society will get 'gigantic' benefits

#31

Post by gizajob »

arisAlexis wrote: post #5
Insanity wrote: post #3

I think most level-headed people can see this is a giant bubble which will eventually burst like the dot-com crash. And AI is technology that's hard to understand to non-technical (and even some technical) investors. But of course, every company needs to slap AI on their product now just to be seen as a viable product. Personally, I look forward to seeing the bubble burst and being left with a more rational view of A…

How is AI hard to understand when you enter a cafe and everyone is chatting with their LLM?

The part that’s hard to understand is how the sunk costs of hundreds of billions in capex gets repaid by all those people in cafes paying hundreds of dollars per month to use those LLMs.

Re: Jeff Bezos says AI is in a bubble but society will get 'gigantic' benefits

#33

Post by jmclnx »

My translation of what Jeff says:

"AI is in a bubble but billionaires will get 'gigantic' benefits"

I see no benefit to anyone unless you can live off your stock portfolio and can easily ride through periods where your portfolio can suffer a 50% loss.

Re: Jeff Bezos says AI is in a bubble but society will get 'gigantic' benefits

#34

Post by hvb2 »

gizajob wrote: post #30
pseudosavant wrote: post #10

What is going on with AI right now could be a bubble just like there was the dotcom bubble. But it isn't like the internet went away after the dotcom burst. The largest companies in existence today are internet companies or have products that wouldn't make sense without the internet. Sure, many of these "thin prompt wrapper around the OpenAI API" product "businesses" will all be gone within a few years. But AI? That…

The bubble is in the valuations on the stock market, not in the technology.

And their promises.

The "it'll make all your devs 6x as productive by the end of the year" types of promises. But those probably explain the valuations

Re: Jeff Bezos says AI is in a bubble but society will get 'gigantic' benefits

#35

Post by gizajob »

hvb2 wrote: post #34
gizajob wrote: post #30

Earlier quoted context omitted.

The bubble is in the valuations on the stock market, not in the technology.

And their promises. The "it'll make all your devs 6x as productive by the end of the year" types of promises. But those probably explain the valuations

Yeah, Sam Altman’s recent one saying that his LLMs would “cure cancer” if they built enough data centres was also a winner.

Re: Jeff Bezos says AI is in a bubble but society will get 'gigantic' benefits

#36

Post by zerosizedweasle »

blast wrote: post #29

He's (unsurprisingly) making an analogy to the dotcom bubble, which seems to me correct. There was a bubble, many non-viable companies got funded and died, and nevertheless the internet did eventually change everything.

The biggest problem is the infrastructure left behind from the Dotcom boom that laid the path for the current world (the high speed fiber) doesn't translate to computer chips. Are you still using intel chips from 1998? And the chips are such a huge cost, and being backed by debt but they depreciate in value exponentially. It's not the same because so much of the current debt fueled spending is on an asset that has very short shelf life. I think AI will be huge, I don't doubt the endgame once it matures. But the bubble now, spending huge amounts on these data centers using debt without a path to profitability (and inordinate spending on these chips) is dangerous. You can think AI will be huge and see how dangerous the current manifestation of the bubble is. A lot of people will get hurt very very badly. This is going to maim the economy in a generational way.

Re: Jeff Bezos says AI is in a bubble but society will get 'gigantic' benefits

#37

Post by saalweachter »

hiccuphippo wrote: post #19
mattnewton wrote: post #2

Seems like a measured approach- my read is him saying it’s probably a bubble in that bad ideas are being funded too, but there are a lot of really good ideas doing well. Also nit: Typo right in the digest I assume, assuming “suring” is “during”, does cnbc proofread their content?

Typos are proof something wasn't Ai written. Everyone should make at least one tyop in their writing.

Only worms until the typos get into the training data. You need to say at least one thing no one has ever said before in every post.

Re: Jeff Bezos says AI is in a bubble but society will get 'gigantic' benefits

#38

Post by bossyTeacher »

pseudosavant wrote: post #10

What is going on with AI right now could be a bubble just like there was the dotcom bubble. But it isn't like the internet went away after the dotcom burst. The largest companies in existence today are internet companies or have products that wouldn't make sense without the internet. Sure, many of these "thin prompt wrapper around the OpenAI API" product "businesses" will all be gone within a few years. But AI? That…

AI has been here well before transformers. Please, let's not pretend that AI started with LLM chatbots.

Re: Jeff Bezos says AI is in a bubble but society will get 'gigantic' benefits

#39

Post by rchaud »

blast wrote: post #29

He's (unsurprisingly) making an analogy to the dotcom bubble, which seems to me correct. There was a bubble, many non-viable companies got funded and died, and nevertheless the internet did eventually change everything.

Dotcom mania companies were not Internet providers. They tried making money on the internet, something people already saw as worth paying for.

Re: Jeff Bezos says AI is in a bubble but society will get 'gigantic' benefits

#40

Post by danielbln »

hiccuphippo wrote: post #19
mattnewton wrote: post #2

Seems like a measured approach- my read is him saying it’s probably a bubble in that bad ideas are being funded too, but there are a lot of really good ideas doing well. Also nit: Typo right in the digest I assume, assuming “suring” is “during”, does cnbc proofread their content?

Typos are proof something wasn't Ai written. Everyone should make at least one tyop in their writing.

"Claude, make sure to sprinkle at least one typo in here. And no em dashes you hear?"
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