The entire US economy right now is 7 companies sending a trillion fake dollars back and forth to each other, but it’s totally not a bubble according to grampa Powell.
Hmm, when people like Powell start explaining that it’s not a bubble, I hear that it’s going to pop sooner rather than later. Especially when he cites “trust me, bro” as evidence.
and coincidentally at the same times GATES AND altman said the same thing about it busting.
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Pretty sure Pets.com had earnings, too.
Sure, these companies have earnings, but then they go burn all of it plus more on training and inference and data centers and whatever the fuck else. It’s not profitable and it never will be. And yet they’re willing to bankrupt the country on this egregore that Sam Altman and his ilk have created.
It’s worse than that. The revenue of all except for NVIDIA (which supplies the graphics chips) is by selling subsidized products. It’s the classic Silicon Valley model of “growth at any cost” and then enshittifying; except the product they’re offering is intolerably expensive.
The AI products are not just losing money as a corporation; They’re losing money on making their revenue. Most will not pay $200 for a month of chatbot interactions. Most will not pay $200 to generate a handful of sloptok videos. The number of users of these AI programs is so high because the product is sold at a loss – and is being shoved in everyone’s face, all the time. It’s free/cheap entertainment for lonely and bored people. Once it hits their wallet, those commonfolk are gone.
Yup, the only real winner here is Nvidia, for selling the shovels for the gold rush. All the “AI” companies are just spending money to lose money. But I guarantee that - somehow - all of us commonfolk will be left holding the bag, not Clammy Sammy Altman.
It’ll probably be like W. Bush - a big bailout right as the Republican leaders are leaving their term. :P
That’s the exact type of thing you hear near the peak of a bubble.
These fools are lying so often and obviously that they are starting to finally lose their base. They can’t even keep their own lies straight.
We call this the “breathing in one’s own farts to admire them” stage
people were discussing this on reddit they said, the AI companies are hoping a retails(investors) sucker would be holding the bag, after they all cashed out.
I hope retail won’t be that stupid, but knowing WSB exists… It wouldn’t shock me.
Either way, there will be blood.
I mean, if you add enough circles to your graph, it just shows how the entire economy works. What’s the cutoff point where it’s an obvious bubble and when it is just normal economics in motion?
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Sure, just define value…
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We need bag holders and we need them NOW!
from what ive read, it could be retail that would be left holding the bag, and when that happens people in those industries will start losing jobs.
Just get Trump to shill it to his base; Like $TRUMP and $MELANIA and $TUAH and the golden “It’s Trump Time” watches and the Trump phone. Real patriots buy Open AI.
Those things are not mutually exclusive, JP!
Are the earrings in the room with us now?
It is Palantir. I bet they are doing evil shit. The way Israel targeted public option and media to navigate what should have been quickly shut down by overwhelming public sentiment, was very abnormal from the abstract overview perspective.
Knowing all the stuff I have seen messing with my offline AI server on my hardware over the last two years, the amount of data scraped and collected by google for everyone on the internet should be more than enough to actively manipulate everyone both logically and emotionally. There is enormous political capital in that manipulative power.
We are experiencing the equivalent of the invention of the nuclear bomb for propaganda. Artificial agents that can manipulate people in ways we won’t understand fully for decades. We are fighting for the human mind right now and no one is talking about it except j4k3.
If you said soul, I would agree with you.
It’s a dome
Yeah. Okay. Just cut the interest rate, and shut up.
What an excellent way to continue not fixing inflation
Nah this is a legit shell game I swear.
