One of the things that I think makes “AI bubble popping” so hard to argue I think is an asymmetry in perceived downside.
On the one hand you can look at Google and think to yourself self, “Google will be fine, they have a healthy business, even if AI doesn’t work out they’ll continue to make tens of billions”. The DEI will make 100s of millions.
So I think you look at CEOs and investors and think “the rational thing is to protect that business”
But I don’t think insiders see it that way. No one in Silicon Valley wants to be the CEO of Kellog’s. The loss of status of longer inventing the future and losing your stock multiple might as well be existential.
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[ 3.5 ms ] story [ 15.3 ms ] threadBOO THIS MAN!
On the one hand you can look at Google and think to yourself self, “Google will be fine, they have a healthy business, even if AI doesn’t work out they’ll continue to make tens of billions”. The DEI will make 100s of millions.
So I think you look at CEOs and investors and think “the rational thing is to protect that business”
But I don’t think insiders see it that way. No one in Silicon Valley wants to be the CEO of Kellog’s. The loss of status of longer inventing the future and losing your stock multiple might as well be existential.