Technology
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I agree that the author didn't do a great job explaining, but they are right about a few things.
Primarily, LLMs are not truth machines. That just flatly and plainly not what they are. No researcher, not even OpenAI makes such a claim.
The problem is the public perception that they are. Or that they almost are. Because a lot of time, they're right. They might even be right more frequently than some people's dumber friends. And even when they're wrong, they sound right. Even when it's wrong, it still sounds smarter than most peoples smartest friends.
So, I think that the point is that there is a perception gap between what LLMs are, and what people THINK that they are.
As long as the perception is more optimistic than the reality, a bubble of some kind will exist. But just because there is a "reckoning" somewhere in the future doesn't imply it will crash to nothing. It just means the investment will align more closely to realistic expectations as the clarity of what realistic expectations even are become more clear.
LLMs are going to revolutionize and also destroy many industries. It will absolutely fundamentally change the way we interact with technology. No doubt...but for applications which strictly demand correctness, they are not appropriate tools. And investors don't really understand that yet.