I suspect this might be worse due to the amount of money being thrown around. As much as I want the companies responsible for the stupid bubble to go bankrupt, there’s a lot of money from pension and investment funds, so that’s going to hurt a lot of people who had nothing to do with that.
And we won’t even get infrastructure out of this. Just a bunch of half finished data centers & $500B in currently warehoused specialized GPUs that can’t easily be repurposed.
One of the many lessons to take from Enron’s downfall. Downfalls like this always seem impossible until the downfall happens. Then it becomes obvious why the downfall was inevitable.
I’ve been hearing that since LLMs started gaining popularity. Doesn’t seem any closer today than, say, 2 years ago. But someone always makes this comment.
I’ve also been expecting a general stock market crash for a decade+. Somehow still hasn’t happened.
Doesn’t seem any closer today than, say, 2 years ago.
Have you seen what small, open-weight models from Chinese labs are capable of doing on consumer-grade hardware? They’re much more advanced than any flagship LLM running on VERY expensive hardware, 2 years ago.
I have no idea how close we might (or might not) be to the bubble bursting, but surely it’s closer than 2 years ago.
It’s fairly clear that the big ai companies are trying to get some form of general artificial intelligence because that’s basically a pot of infinite money, if they find it the rest of the economy is fucked and they skyrocket in value if they don’t find it the rest of the economy is fucked from debit and they go belly up.
Is this similar to the Dot.Com bubble burst?
I suspect this might be worse due to the amount of money being thrown around. As much as I want the companies responsible for the stupid bubble to go bankrupt, there’s a lot of money from pension and investment funds, so that’s going to hurt a lot of people who had nothing to do with that.
https://www.wheresyoured.at/credit-crunch/
Speaking as an ancient person that has survived 40+ years of a capitalist hellscape, Yes. The bubble always bursts.
It is a thing that bubbles do.
I remember the wall coming down and Denmark winning the UEFA cup in '92…
I think the AI bubble is gonna be so much worse than dotcom or housing in 2008. To me this AI bullshit is the dotcom on steroids.
And we won’t even get infrastructure out of this. Just a bunch of half finished data centers & $500B in currently warehoused specialized GPUs that can’t easily be repurposed.
AND an industry that has an inflated sense of pricing
Also like the 2008 housing crash.
I think we’re getting close to a pop.
People always say that, never happens
One of the many lessons to take from Enron’s downfall. Downfalls like this always seem impossible until the downfall happens. Then it becomes obvious why the downfall was inevitable.
Enron never happened. Let’s check on my Lehman Brothers position.
Dude my pets.com stock is hot💎 🙌💎 🙌
Dude, I’m this close to trading my beenz for a million dollars!!!
??
I’ve been hearing that since LLMs started gaining popularity. Doesn’t seem any closer today than, say, 2 years ago. But someone always makes this comment.
I’ve also been expecting a general stock market crash for a decade+. Somehow still hasn’t happened.
Because they don’t need us. As long as they trade amongst themselves the price goes up. We can all die for all they care.
Have you seen what small, open-weight models from Chinese labs are capable of doing on consumer-grade hardware? They’re much more advanced than any flagship LLM running on VERY expensive hardware, 2 years ago.
I have no idea how close we might (or might not) be to the bubble bursting, but surely it’s closer than 2 years ago.
It’s fairly clear that the big ai companies are trying to get some form of general artificial intelligence because that’s basically a pot of infinite money, if they find it the rest of the economy is fucked and they skyrocket in value if they don’t find it the rest of the economy is fucked from debit and they go belly up.
It sounds like a couple of billionaires are staking their fortunes on a dice roll because the world bores them and fuck everyone else. Right?
Edit: I meant a couple, two three billionaires.
right now they are trying t get governments to buy into slop for AI surveillance purposes.
Steve Eisman has entered the chat