After the Bubble
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After the Bubble
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Re: After the Bubble
#2There is no AI bubble. The housing bubble was about artificially inflated housing assets.
People have been calling Bitcoin a bubble since it was introduced. Has it popped? No. Has it reached the popularity and usability crypto shills said it would? Also no.
AI on the other hand has the potential to put literally millions of individuals out of work. At a minimum, it is already augmenting the value of highly-skilled intellectual workers. This is the final capitalism cheat code. A worker who does not sleep or take time off.
There will be layoffs and there will be bankruptcies. Yes. But AI is never going to be rolled back. We are never going to see a pre-AI world ever again, just like Bitcoin never really went away.
Re: After the Bubble
#3There is no AI bubble. The housing bubble was about artificially inflated housing assets. People have been calling Bitcoin a bubble since it was introduced. Has it popped? No. Has it reached the popularity and usability crypto shills said it would? Also no. AI on the other hand has the potential to put literally millions of individuals out of work. At a minimum, it is already augmenting the value of highly-skilled in…
> AI on the other hand has the potential to put literally millions of individuals out of work. At a minimum, it is already augmenting the value of highly-skilled intellectual
This has been true since, say, 1955.
> This is the final capitalism cheat code. A worker who does not sleep or take time off.
That’s the hope that is driving the current AI Bubble. It has neither ever been true nor will be true with the current state of the art in AI. This realization is what is deflating the bubble.
Re: After the Bubble
#4There is no AI bubble. The housing bubble was about artificially inflated housing assets. People have been calling Bitcoin a bubble since it was introduced. Has it popped? No. Has it reached the popularity and usability crypto shills said it would? Also no. AI on the other hand has the potential to put literally millions of individuals out of work. At a minimum, it is already augmenting the value of highly-skilled in…
A bubble that pops can still leave residue (see: dot-com)
Re: After the Bubble
#5> When the early-electrification bubble built, we were left with the grid. And when the dot-com bubble burst, we were left with a lot of valuable infrastructure whose cost was sunk, in particular dark fibre. The AI bubble? Not so much.
Except for the physical buildings, permitting, and power grid build-out.
Re: After the Bubble
#6There is no AI bubble. The housing bubble was about artificially inflated housing assets. People have been calling Bitcoin a bubble since it was introduced. Has it popped? No. Has it reached the popularity and usability crypto shills said it would? Also no. AI on the other hand has the potential to put literally millions of individuals out of work. At a minimum, it is already augmenting the value of highly-skilled in…
Even if all that were true, where is the path to profitability for OpenAI, and all the rest? If they can't pivot to making a profit, then they are going to pop, and their investors will lose all their money. That's the AI bubble... investors losing all their money.
The technology will remain, of course, just like we still have railways, and houses.
Re: After the Bubble
#7> When the early-electrification bubble built, we were left with the grid. And when the dot-com bubble burst, we were left with a lot of valuable infrastructure whose cost was sunk, in particular dark fibre. The AI bubble? Not so much. Except for the physical buildings, permitting, and power grid build-out.
Thinking about data center capacity. How much new capacity we actually need? Ignoring AI that is. Will there be demand for this and will that demand cover the maintenance in the interim. Power-grid capacity as long as it is not too expensive could be reasonable use. But buildings and permits and so on might be less.
Re: After the Bubble
#8> If the genAI fanpholks are right, all the debt-only-don’t-call-it-that will be covered by profits and everyone can sleep sound. Only it won’t.
[citation needed]
Re: After the Bubble
#9There is no AI bubble. The housing bubble was about artificially inflated housing assets. People have been calling Bitcoin a bubble since it was introduced. Has it popped? No. Has it reached the popularity and usability crypto shills said it would? Also no. AI on the other hand has the potential to put literally millions of individuals out of work. At a minimum, it is already augmenting the value of highly-skilled in…
Bitcoin has had the fortune of being one of the settlement methods for sanctions evasion. Its price has almost certainly profited from the Ukraine war.
Renewed interest by the Trump clan with Lutnick's Cantor & Fitzgerald handling Tether collateral in Nayib Bukele's paradise wasn't easy to predict either.
Neither was the recent selloff. It would be hilarious if it was for a slush fund for Venezuelan rebels or army generals (bribing the military was the method of choice in Syria before the fall of Assad).
Re: After the Bubble
#10There is no AI bubble. The housing bubble was about artificially inflated housing assets. People have been calling Bitcoin a bubble since it was introduced. Has it popped? No. Has it reached the popularity and usability crypto shills said it would? Also no. AI on the other hand has the potential to put literally millions of individuals out of work. At a minimum, it is already augmenting the value of highly-skilled in…
But the days when every HN submission was about some blockchain thing did end -- and hopefully that'll happen for AI too. I'm sick of reading about it at this point, but it sure is most news stories (at the outlet's I'm usually interested in)