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Is it a bubble?

oaktreecapital.com

91–100 of 605 posts

Re: Is it a bubble?

#91

> In many advanced software teams, developers no longer write the code; they type in what they want, and AI systems generate the code for them. What a wild and speculative claim. Is there any source for this information?

The line right after this is much worse: > Coding performed by AI is at a world-class level, something that wasn’t so just a year ago. Wow, finance people certainly don't understand programming.

Ask ChatGPT “is AI programming world class?”

Re: Is it a bubble?

#92

> In many advanced software teams, developers no longer write the code; they type in what they want, and AI systems generate the code for them. What a wild and speculative claim. Is there any source for this information?

source: me I wrote 4000 lines of Rust code with Codex - a high throughput websocket data collector. Spoiler: I do not know Rust at all. I discussed possible architectures with GPT/Gemini/Grok (sync/async, data flow, storage options, ...), refined a design and then it was all implemented with agents. Works perfectly, no bugs.

I would be interested in a web series (podcast or video) where people who do not know a language create something with AI. Then somebody with experience building in that technology reviews the code and gives feedback on it.

I am personally progressing to a point where I wonder if it even matters what the code looks like if it passes functional and unit tests. Do patterns matter if humans are not going to write and edit the code? Maybe sometimes. Maybe not other times.

Re: Is it a bubble?

#94
post #31
post #20

A take I saw recently is: if people are still asking "are we in a bubble" then we are not yet in a bubble.

I think it'd be truer to say that you can't be sure it's a bubble until after it pops.

That is like telling others who experience natural disasters to wait until it happens and then ask themselves "How much damage will it bring" and then someone else tells them that it costed them everything.

Anyone who has lived through the dotcom bubble knows that this AI mania is a obvious bubble and the whole point is you have to prepare before it eventually pops, not after someone tells you that it is too late when it pops.

Re: Is it a bubble?

#95
post #86
post #77

Earlier quoted context omitted.

Did you do 5-10 years of work in the year after you adopted AI? If you started after AI came in to existence 3 years ago (/s) you should have achieved 30 years of work output - a whole career of work.

I think AI only "got good" around the release of Claude Code + Opus 4.0, which was around March of this year. And it's not like I sit down and code 8 hours a day 5 days a week. I put on my pants one leg at a time -- there's a lot of other inefficiencies in the process, like meetings, alignment, etc, etc. But yes, I do think that the efficiency gain, purely in the domain of coding, is around 5x, which is why I was abl…

[deleted]

Re: Is it a bubble?

#96
post #72
post #62

Earlier quoted context omitted.

[deleted]

> Including how it looks at the surrounding code and patterns. Citation needed. Even with specific examples, “follow the patterns from the existing tests”, etc copilot (gpt 5) still insists on generating tests using the wrong methods (“describe” and “it” in a codebase that uses “suite” and “test”). An intern, even an intern with a severe cognitive disability, would not be so bad at pattern following.

Do you think smart companies seeking to leverage AI effectively in their engineering orgs are using the 20$ slopify subscription from Microsoft?

You get what you pay for.

Re: Is it a bubble?

#97
post #4

TLDR: Yes.

Sorry to pop your bubble...

...it is a bubble and we all know it.

(I know you have RSUs / shares / golden handcuffs waiting to be vested in the next 1 - 4 years which is why you want the bubble to continue to get bigger.)

But one certainty is the crash will be spectacular.

Re: Is it a bubble?

#98

The post script was pretty sobering. It's kind of the first time in my life that I've been actively hoping for a technology to out right not deliver on its promise. This is a pretty depressing place to be, because most emerging technologies provide us with exciting new possibilities whereas this technology seems only exciting for management stressed about payroll. It's true that the technology currently works as an e…

> It's kind of the first time in my life that I've been actively hoping for a technology to out right not deliver on its promise. Same here, and I think it's because I feel like a craftsman. I thoroughly enjoy the process of thinking deeply about what I will build, breaking down the work into related chunks, and of course writing the code itself. It's like magic when it all comes together. Sometimes I can't even beli…

I also love to code, though it's not what people pay to do anymore.

You should never hope for a technology to not deliver on its promise. Sooner or later it usually does. The question is, does it happen in two years or a hundred years? My motto: don't predict, prepare.

Re: Is it a bubble?

#99
post #94
post #31

Earlier quoted context omitted.

I think it'd be truer to say that you can't be sure it's a bubble until after it pops.

That is like telling others who experience natural disasters to wait until it happens and then ask themselves "How much damage will it bring" and then someone else tells them that it costed them everything. Anyone who has lived through the dotcom bubble knows that this AI mania is a obvious bubble and the whole point is you have to prepare before it eventually pops, not after someone tells you that it is too late whe…

You don't prepare by making predictions about when it will pop, you prepare by hedging etc.

Just as those who live in earthquake-prone areas build earthquake-resistant buildings.

Re: Is it a bubble?

#100

The post script was pretty sobering. It's kind of the first time in my life that I've been actively hoping for a technology to out right not deliver on its promise. This is a pretty depressing place to be, because most emerging technologies provide us with exciting new possibilities whereas this technology seems only exciting for management stressed about payroll. It's true that the technology currently works as an e…

> It's kind of the first time in my life that I've been actively hoping for a technology to out right not deliver on its promise. Same here, and I think it's because I feel like a craftsman. I thoroughly enjoy the process of thinking deeply about what I will build, breaking down the work into related chunks, and of course writing the code itself. It's like magic when it all comes together. Sometimes I can't even beli…

So write code.

Maybe post renaissance many artists no longer had patrons, but nothing was stopping them from painting.

If your industry truely is going in the direction where there's no paid work for you to code (which is unlikely in my opinion), nobody is stopping you. It's easier than ever, you have decades of personal computing at your fingertips.

Most people with a thing they love do it as a hobby, not a job. Maybe you've had it good for a long time?

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