During most of the dot-com boom, there was not a broad consensus that a bubble existed, whereas today’s AI boom is widely accompanied by media warnings about an AI bubble, making public awareness much higher than it was in the late 1990s. I don't think a single person hasn't heard the "circular financing" talking points from multiple people who think they're being insightful. Or Burry who thinks a GPU should be trashed after 2 years. Doesn't sound like irrational euphoria.
There was, at least towards the end. FED chair at the time described it as 'irrational exuberance'. Warren Buffett made an excellent speech in front of most Silicon Valley titans at the time - telling them that their wealth is about to be blown up.
This isn't rocket science - do anybody sane believe that OpenAI will spend what, 1.5 Trillion $ they project ? Quite a big chunck of Oracle, Nvidia and others projections are based on this 1.5 Trillion $. They are loosing money and their revenue is 1% of this figure.
There's a lot of manipulation going on. Attempts to pop the bubble artificially, prematurely. There's a lot of impatience and illusion of control out there. You can bet that when a real bubble bursts, we won't be seeing articles about it on Wired in the run up.
Its silly to talk about a bubble when all of the major AI companies just recieved 3-5yrs runway in VC. I normally hate the term FUD, bit in this case it's proveably true. Even if these companies collapse in 5 years, thats a lifetime away in tech years, not an immediate bubble.
Some have realized that LLMs don’t really reason and that LLMs may not be as amazing as the claims. However, I think LLMs plus agents, plus advances that are likely to come may very well prove to be more valuable than anyone can foresee. It’s very difficult to predict the future profitability of tech.
I am split on this, this is definitely a bubble but I don’t know if it’s going to crash or wipe out countries. The problem here is the tech is real and has great promise. This is not AGI but llms can make the promise of robots real, by it may take a long time for it to materialize just like with self driving cars. So the hype can subside but it needs an impetus to slide. It may or may not happen and even if it does, not sure when
If it’s a bubble because some large and small companies will collapse, then yes, there is a bubble waiting to burst.
OpenAI, NVIDIA, Microsoft, Apple, Amazon, etc. obviously won’t collapse.
The money being thrown around is mind boggling. However, we’ve been throwing this type of money around for a handful of years now.
Tons of layoffs, homelessness, corruption, unemployment, difficulties for everyone to find a job, the incoming SNAP meltdown, government shutdown and the mess it’s going to cause for a while. None of it makes sense. It’s pure crazy because everything should have imploded by now. The tech layoffs and government layoffs alone should be causing a shitstorm of misery out there, but it’s hidden somehow.
AI isn’t going away. It’s here to stay. It has already become embedded into so many core things we do everyday. So many jobs are affected by it. Like, marketing, graphic design, writing, so many jobs in hollywood, like storyboarding and voiceover work, and the creative process of so many things. So many scenes today in movies are CGI and it’s hard to tell, like 3-second scenes, or CGI overlays. All of that will be created with a prompt in the next couple of years. Sure, some editing will be needed for the generated scenes, but with far less staff. The key takeaway here is that this equates to millions of jobs vanishing rather quickly. Core jobs that people of all ages based their careers on.
Don’t get lost in the details of AI generating garbage or not. The remaining companies that survive will continue to make it better. Don’t think for a second there will be a resurgence in these jobs coming back because everyone thinks a human can do it better.
All those data center GPU buildouts will not go waste. We’re headed for a dystopia that’s even worse than the one we’re living in right now.
Wait until a few people are killed by police for stealing food from a grocery story because they are starving and need to feed their families. It will be the first time we get close to a civil war becoming a reality.
Recently, I came across a short video on YouTube where Jeff Bezos referred to AI as an industrial bubble rather than a typical financial bubble that we often associate with bubbles.
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[ 2.4 ms ] story [ 29.8 ms ] threadThis isn't rocket science - do anybody sane believe that OpenAI will spend what, 1.5 Trillion $ they project ? Quite a big chunck of Oracle, Nvidia and others projections are based on this 1.5 Trillion $. They are loosing money and their revenue is 1% of this figure.
OpenAI, NVIDIA, Microsoft, Apple, Amazon, etc. obviously won’t collapse.
The money being thrown around is mind boggling. However, we’ve been throwing this type of money around for a handful of years now.
Tons of layoffs, homelessness, corruption, unemployment, difficulties for everyone to find a job, the incoming SNAP meltdown, government shutdown and the mess it’s going to cause for a while. None of it makes sense. It’s pure crazy because everything should have imploded by now. The tech layoffs and government layoffs alone should be causing a shitstorm of misery out there, but it’s hidden somehow.
AI isn’t going away. It’s here to stay. It has already become embedded into so many core things we do everyday. So many jobs are affected by it. Like, marketing, graphic design, writing, so many jobs in hollywood, like storyboarding and voiceover work, and the creative process of so many things. So many scenes today in movies are CGI and it’s hard to tell, like 3-second scenes, or CGI overlays. All of that will be created with a prompt in the next couple of years. Sure, some editing will be needed for the generated scenes, but with far less staff. The key takeaway here is that this equates to millions of jobs vanishing rather quickly. Core jobs that people of all ages based their careers on.
Don’t get lost in the details of AI generating garbage or not. The remaining companies that survive will continue to make it better. Don’t think for a second there will be a resurgence in these jobs coming back because everyone thinks a human can do it better.
All those data center GPU buildouts will not go waste. We’re headed for a dystopia that’s even worse than the one we’re living in right now.
Wait until a few people are killed by police for stealing food from a grocery story because they are starving and need to feed their families. It will be the first time we get close to a civil war becoming a reality.