Technology

Here's why:

Boards of directors are CEOs of other companies that are buddies of the CEO of the company they are directors of. This is like a shitty musical chair of board of directors.

This podcasting bro is NOT chasing revenue (yet).

He wants power.

He wants to collect 11-12 figure sums of venture capital and then built things that let him rule the world.

And afterwards, maybe revenue.

Another year of this shit? I don't think we can take it, honestly

Mah, won't happen like this. It was similar with Facebook 10 years ago and look at where it is now.

I doubt anyone that big will fall, Microsoft have so many fingers in so many pies, they can afford to take a hit like this. Plus, with the Office suite of products, they're probably in the best place to make something back, even if they don't make all their money back.

Microsoft are bullet proof. Their share price will take a big hit, and an exec or two will take a golden parachute, but they'll bounce back very quickly. The bigger problem is that along the way they'll balance the capex with multiple rounds of cutbacks and layoffs in other departments, and that's before they're finally forced to layoff everyone actually connected to this AI nonsense (who isn't a senior manager or c-suite; they'll all be fine).

Nvidea. Their share price would be a fraction of what it is without AI. Just like the last two cryptocurrency bubbles, they went all in and then acted surprised when they popped.

At the same time, they've lost a lot of goodwill with gamers, formerly their core audience. With the AAA industry pulling back, games might not be pushing the limits of GPU tech anymore. Microsoft still has their old core products, but Nvidia may return to it to find a wasteland.

Or when you do just assuming you can override them eventually

We had a guy like that at work, he said basically "how far above you do I have to go to get what I want"

IMO it's even worse than that. At least from what I gather from the AI/Singularity communities I follow. For them, AGI is the end goal - a creative thinking AI capable of deduction far greater than humanity. The company that owns that suddenly has the capability to solve all manner of problems that are slowing down technological advancement. Obviously owning that would be worth trillions.

However it's really hard to see through the smoke that the Altmans etc. are putting up - how much of it is actual genuine prediction and how much is fairy tales they're telling to get more investment?

And I'd have a hard time believing it isn't mostly the latter because while LLMs have made some pretty impressive advancements, they still can't have specialized discussions about pretty much anything without hallucinating answers. I have a test I use for each new generation of LLMs where I interview them about a book I'm relatively familiar with and even with the newest ChatGPT model, it still makes up a ton of shit, even often contradicting its own answers in that thread, all the while absolutely confident that it's familiar with the source material.

Honestly, I'll believe they're capable of advancing AI when we get an AI that can say 'I actually am not sure about that, let me do a search...' or something like that.

yeah, i really hate this. i have shares of multiple tech companies, like nvidia, intel, AMD, TSMC, etc. and because of the AI bubble idk how much they are really worth. the market is all warped and one day a company is doing well, the next day it seems to be in peril. i would like to know how much they would be worth after the bubble bursts, but there is no way to know.

I think it's a delusion of grandeur.

Oh wow I didn't actually know he was bipolar (checked to confirm it is the case). I knew he was on the autism spectrum.

I can't imagine those 2 play nice together.

Which is why China is also pushing hard for AI as well.