I’ve been an AI realist from the start. What can the models actually do? What are the limitations? Ultimately, I think there is a place in the market for them - for people who understand the limitations of them and know when they’re spewing BS.
I am not shocked at all that OpenAI (and Microsoft being one of it’s largest shareholders) is burning cash and suddenly is realizing it may not be able to make good on it’s promises. AI reality vs AI hype. Us actual tech people have known since the beginning this was all hype, now finance people are starting to notice (about time).
Why wait next year?
This has really be the ultimate version of telling customers what they want instead of listening to them, what a wild ride.
You can have any colour you like, as long as it’s black.
but we don’t even want it to begin with
Yes, that’s why you want the black one.
Don’t tease us with hope.
Finance people are honestly so willfully stupid and blinded by their beliefs about economics, the writing has been on the wall for awhile now for AI.
Its a pretty willfully nefarious game of hot potato and they are very willing to keep it going as long as possible.
Then we get “too big to fail” so they can be bailed out with social funds instead of going down in flames for gambling.
The more I learn about finance the angrier it makes me.
b-b-bbut, but it’s not a bubble! It’s just four megacorps cycling money around between them while they tell everyone the profits will happen any day now! Just as soon as those dumb users start paying for a product we’re giving away for free right now… yea, it’s all those dumb users’ faults! If they would pay dollars for every question, we’d already be in the black! If everyone would just keep giving us money with no tangible returns, we’d already be in the black! Ugh, it’s everyone else’s fault!
(ok kinda’ screwed that up being from a finance bro’s perspective but the sentiment is similar…)
Finance people who understand the system don’t make the money on the assets, but on their trade. They really don’t care up or down or implode.
“Investors” who buy “assets” in a deregulated environment like this are just moronic gamblers in a liar’s casino where the only axiom is “Everybody cheats”.
The world of finance is now primarily just pump-and-dump schemes.
“How did you go bankrupt?” - “Two ways, gradually and then suddenly.”
