Comment by james_oofou
10 days ago
I'll take it for finance people being totally clueless, right? Have you talked to these people about AI?
10 days ago
I'll take it for finance people being totally clueless, right? Have you talked to these people about AI?
My experience has gone the other way than OOP: Anecdotally, I have had VCs ask me to review AI companies to tell them what they do so they can invest. The VC said VCs don't really understand what they're investing in and just want to get in on anything AI due to FOMO.
The company I reviewed didn't seem like a great investment, but I don't even think that matters right now.
To be clear when I said “finance folks” I wasn’t really referring to VCs. I’m talking more family office types that manage big pools of money that you don’t know about. The super wealthy class that has literally has more money than the King but would be horrified if you knew their name. Old money types. They’re well aware of the “dumb VC” vibe that just throws money after hype. The finance folks I’m talking about are the type that eat failed VCs for lunch.
And what is it that you believe about these old money types' knowledge of AI and why is it that you believe it?
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In my experience they invariably conflate LLMs with AI and can’t/won’t have the difference explained.
This is the blind spot that will cause many to lose their shirts, and is also why people are wrong about AI being a bubble. LLMs are a bubble within an overall healthy growth market.
LLMs are a bubble on the back of an AI bubble in a market finally surmounting an enormous single-shot energy surfeit
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