Yes, I’m getting some serious dot-com bubble vibes from the whole AI thing. But the dot-com boom produced Amazon, and every company is basically going all-in in the hope they are the new Amazon while in the end most will end up like pets.com but it’s a risk they’re willing to take.
Investors pump money in a bunch of companies so the chances of at least one of them making it big and paying them back for all the failed investments is almost guaranteed. That’s what taking risks is all about.
Sure, but it SEEMS, that some investors are relying on buzzword and hype, without research and ignoring the fundamentals of investing, i.e. besides the ever evolving claims of the CEO, is the company well managed? What is their cash flow and where is it going a year from now? Do the upper level managers have coke habits?
Also called a Ponzi scheme, where every participant knows it’s a scam, but hopes to find some more fools before it crashes and leave with positive balance.
A lot of it is follow the leader type bullshit. For companies in areas where AI is actually beneficial they have already been implementing it for years, quietly because it isn’t something new or exceptional. It is just the tool you use for solving certain problems.
Yeah, can make some products better but most of the products these days that use AI, it doesn’t actually need them. It’s annoying to use products that actively shovel AI when it doesn’t even need it.
Nah. We already have AI toasters, and they’re ambitious, but rubbish.
Adding AI is just serious overkill for a toaster, especially when it wouldn’t add anything meaningful, not compared to just designing the toaster better.
I think AI has mostly been about luring investors into pumping up share prices rather than offering something of genuine value to consumers.
Some people are gonna lose a lot of other people’s money over it.
Yes, I’m getting some serious dot-com bubble vibes from the whole AI thing. But the dot-com boom produced Amazon, and every company is basically going all-in in the hope they are the new Amazon while in the end most will end up like pets.com but it’s a risk they’re willing to take.
“You might lose all your money, but that is a risk I’m willing to take”
Investors pump money in a bunch of companies so the chances of at least one of them making it big and paying them back for all the failed investments is almost guaranteed. That’s what taking risks is all about.
Sure, but it SEEMS, that some investors are relying on buzzword and hype, without research and ignoring the fundamentals of investing, i.e. besides the ever evolving claims of the CEO, is the company well managed? What is their cash flow and where is it going a year from now? Do the upper level managers have coke habits?
You’re right, but these fundamentals don’t really matter anymore, investors are buying hype and hoping to sell a bigger hype for more money later.
Seeing the whole thing as Knowingly Trading in Hype is actually a really good insight.
Certainly it neatly explains a lot.
Also called a Ponzi scheme, where every participant knows it’s a scam, but hopes to find some more fools before it crashes and leave with positive balance.
A lot of it is follow the leader type bullshit. For companies in areas where AI is actually beneficial they have already been implementing it for years, quietly because it isn’t something new or exceptional. It is just the tool you use for solving certain problems.
Investors going to bubble though.
Yeah, can make some products better but most of the products these days that use AI, it doesn’t actually need them. It’s annoying to use products that actively shovel AI when it doesn’t even need it.
Ya know what pfoduct MIGHT be better with AI?
Toasters. They have ONE JOB, and everybody agrees their toaster is crap. But you’re not going to buy another toaster, because that too will be crap.
How about a toaster, that accurately, and evenly toasts your bread, and then DOESN’T give you a heart attack at 5am when you’re still half asleep???
IS THAT TOO MUCH TO ASK???
AI toasters are a Bad Idea
Nah. We already have AI toasters, and they’re ambitious, but rubbish.
Adding AI is just serious overkill for a toaster, especially when it wouldn’t add anything meaningful, not compared to just designing the toaster better.
Definitely. Many companies have implemented AI without thinking with 3 brain cells.
Great and useful implementation of AI exists, but it’s like 1/100 right now in products.
My old company before they laid me off laid off our entire HR and Comms teams in exchange for ChatGPT Enterprise.
“We can just have an AI chatbot for HR and pay inquiries and ask Dall-e to create icons and other content”.
A friend who still works there told me they’re hiring a bunch of “prompt engineers” to improve the quality of the AI outputs haha