Comment by 1dom
8 hours ago
"No, NewBigTech _is_ different, trust me, I'm an expert in all the things this tech does for us now."
Crypto was doing stuff in 2012, it contributed to a huge amount of global remittance payments even then, and probably still does now.
I was working with intelligence agencies, and crypto was being widely use in a variety of crimes too. Both of those are still probably true, and then there's now probably an entire industry shipping literally billions of $ around the world every day as settlement between exchanges in crypto.
As someone who was approached as an expert at the time, I was saying all the things you're saying to me now at the time about Crypto.
The point is I was right at the time: crypto was being used, and still is. You're right, AI is being used, and still is.
The problem, or the bubble or the pump/dump/parallel element is that the amount of attention and capital flowing around the area is vastly more than the current use cases and is therefore largely speculative.
This is true in AI too. Yes people are using it already daily, but if everyone is already using AI for everything, then why do we need a few hundered billion dollars more of datacentres, chips, RAM and powergen, what's that for...? "Future AI stuff..." soooo.... speculative...?
> if everyone is already using AI for everything, then why do we need a few hundered billion dollars more of datacentres, chips, RAM and powergen
Because everyone is already using AI for everything. That proves its value.
But of course the future isn't evenly distributed yet and only a tiny fraction of 1% of us are using AI all day so far. But once somebody gets converted they don't / can't go back to the old way. And converting them is pretty much instant.