#and plant some astroturfed hype about them | Explore Tumblr posts and blogs

aparrotandaqrow · 10 months ago

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"This, more than anything else, seems like the underlying point of the AI hype cycle of 2023. Sure, there is a material thing being produced here. And that thing might one day have real value. But investors and executives — the big players with market-shaping power — don’t actually live in the future. They just enjoy LARPing at it."

I don’t see how else to make sense of it. 2022 was the year the 20-year tech bubble finally burst. 2023 was still bad for startups, and was full of bad headlines for the big platforms. And yet, in the markets, tech investors just took a deep collective breath and started inflating the next bubble, as though the previous year had never happened.

Silicon Valley runs on Futurity

#generative ai #stonks #look for an even bigger tech crash in 2-3 years when it becomes clear that AI actually *can't* make money #the reason imo the last crash wasn't really a crash was that resources and momentum got shunted to AI #AI requires an enormous amount of computing power especially GPUs #that didn't come from nowhere #the crypto crash and etherium blockchain shutdown would have wiped out a huge number of GPU farms #that should have provoked a HUGE crash due to the vast number of resources invested in them #not to mention energy consumption on par with Hong Kong #so I don't think it's a coincidence that right when there's folks potentially about to lose catastrophic amounts of money on idle GPUs #along comes a massive AI boom that just happens to benefit from a ton of computing power #but just like crypto was a massize ponzi scheme that was never going to be a real asset #AI is also never going to turn a profit #improvemed performance and cost savings are mutually exclusive for LLMs #and the tech investment cycle is around 3-5 years #so eventually someone is going to get annoyed that this AI investment isn't doing anything more than create hype #and the crash will start again #only this time there will be no overpriced and overhyped new golden child to pay for those idle GPUs #and they'll just have to go back into the general market #at an enormous loss for the former crypto miners and the general benefit of people looking to buy computers #but then again stock value has long been divorced from real productivity #a stock's performance has very little to do with the company itself #In fact I bet you could plant totally fictional stocks with high valuations into the market #and plant some astroturfed hype about them #and you could cause a serious boom-bust cycle with huge amounts of money trading hands

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