And they will ALL deserve it.
this post was submitted on 21 Oct 2024
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Aw, only 99%?
Not shocked. It seems the tech bros like to troll us every few years.
The tech bros are selling, but it's the VCs that are fueling this whole thing. They're grasping for the next big thing. Mostly they don't care if any of it actually works, as long as they can pump share value and then sell before it collapses.
Techbros are the modern day equivalent to snake oil salesmen.
They they have been trying to repeat big tech rise...
But each generation is more limp dick
Uber/airbnb > crypto > ai
As someone who follows the startup space (and is thinking of starting their own, non-AI driven startup), the issue is all of the easily solvable problems have already been solved. The only thing that shakes up the tree is when new tech comes along and makes some of the old problems easy to solve.
So take a look at crypto - If you wanted to make a tip bot on Telegram, before crypto that was really hard. You needed to register with something like PayPal, have the recipient register with PayPal, etc etc etc. After crypto it was "Hey this person sent you 5$, use this private key if you want to recover it" (btw I made this service and it was used a lot).
Now look at AI - Imagine making a service that detects CSAM before AI took off. As an aside, I did NOT make this service, but I know a group of people who did. Imagine trying to make this without the AI boom - you'd need millions of images for training data, a PhD in machine learning, and so much more. Now, anyone can make it in their basement.
The point is, investors KNOW the bubble is a bubble and that it will pop. It doesn't matter though. They're looking for people who will solve problems that previously cost 1bln to solve with only 1mln of funding. If even 1% of their companies pay off, they make a profit.
If even 1% of their companies pay off, they make a profit.
I suspect they make a profit even when 0% pan out. They just need to find someone gullible enough to buy in at the peak, and there's a new sucker born every minute.
bubble after bubble after bubble after...
problem is, the amount of soap(money) that goes around to make the bubbles keeps shrinking because the bubbles are siphoning it away from the consumers.
I wonder what happens when there's no more soap left to go around?
Checks to see if Baidu is doing AI…yes, they are. How shocking.
“probably 1% of the companies will stand out and become huge and will create a lot of value, or will create tremendous value for the people, for society. And I think we are just going through this kind of process.”
Baidu is huge. Sounds like good news for Baidu!
Tech makes bubbles because people think it’s magic.
YUP
idk why baidu requires a account to download from it.