To commit fraud you have to lie, deceive, or conceal. All of this bonkers financing is happening in broad daylight, announced to the markets, and met with rave reviews. I tend to agree with Zitron that the whole thing is a castle made of sand - not because the tech is bad or useless but because the financing, in its scope and structure, is so outlandish - but you can build a castle made of sand as long as you don’t tell anyone it’s made of steel.
So far NVIDIA has been very careful, it’s not actual fraud, at least based on public information. It’s a very unstable and extremely risky bet, that is very likely to blow in the face face of AI companies, but it’s not fraud
I think a lot of people (myself included) would love for it to be fraud. Because even if it's not fraud what is being done between NVidia, OAI, Anthropic, Microsoft, Meta, Musk and Google is funny accounting at the very least. It's hard to take any part of what's going on seriously in the US at this point and I feel like the bigger downside to all of this is that if/when they get away with this, and there are no repurcussions for any of the big names involved, then it erodes consumer trust that much further, pushing us deeper into a state of "doesn't matter anyway, why try".
Yes, you can include me too. I’m aware enough of the details to know we don’t have any proof of anything fraudulent, but that whole situation is just so disgusting
Patrick Boyle had a vid specifically on whether there was Enron style fraud. The conclusion was no, though he thinks things may be a bit bubbly https://youtu.be/NufJ7g63KSY
Why? If there's no evidence of fraud, why are you imagining some new category of fraud that these companies have independently conjured up?
Suggesting that an entire industry is in cahoots to invent and participate in an entirely new fraud-like scheme, including companies that have lots of wealth and growth and much to lose from such an exposure...seems awfully conspiratorial, don't you think?
There is no evidence of fraud that I have seen beyond complete speculation from the likes of Zitron. He basically just says "Look how big the numbers are! It's so big it must be fraud!"
To commit fraud you have to lie, deceive, or conceal. All of this bonkers financing is happening in broad daylight, announced to the markets, and met with rave reviews. I tend to agree with Zitron that the whole thing is a castle made of sand - not because the tech is bad or useless but because the financing, in its scope and structure, is so outlandish - but you can build a castle made of sand as long as you don’t tell anyone it’s made of steel.
So far NVIDIA has been very careful, it’s not actual fraud, at least based on public information. It’s a very unstable and extremely risky bet, that is very likely to blow in the face face of AI companies, but it’s not fraud
I think a lot of people (myself included) would love for it to be fraud. Because even if it's not fraud what is being done between NVidia, OAI, Anthropic, Microsoft, Meta, Musk and Google is funny accounting at the very least. It's hard to take any part of what's going on seriously in the US at this point and I feel like the bigger downside to all of this is that if/when they get away with this, and there are no repurcussions for any of the big names involved, then it erodes consumer trust that much further, pushing us deeper into a state of "doesn't matter anyway, why try".
Yes, you can include me too. I’m aware enough of the details to know we don’t have any proof of anything fraudulent, but that whole situation is just so disgusting
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Patrick Boyle had a vid specifically on whether there was Enron style fraud. The conclusion was no, though he thinks things may be a bit bubbly https://youtu.be/NufJ7g63KSY
It's worth considering that it might not be 'Enron-style' fraud, because that's the best comparison have at the moment.
What event did people compare Enron to, before Enron became 'Enron'?
It's probable we're witnessing an entirely new fraud, we just don't have all of the details yet.
Why? If there's no evidence of fraud, why are you imagining some new category of fraud that these companies have independently conjured up?
Suggesting that an entire industry is in cahoots to invent and participate in an entirely new fraud-like scheme, including companies that have lots of wealth and growth and much to lose from such an exposure...seems awfully conspiratorial, don't you think?
There is no evidence of fraud that I have seen beyond complete speculation from the likes of Zitron. He basically just says "Look how big the numbers are! It's so big it must be fraud!"
Zitron himself doesn’t call it fraud and doesn’t compare it to Enron (he said no, with his reasoning when asked in interviews, multiple times)
I was thinking of this article where he compares OpenAI to enron: https://www.wheresyoured.at/what-happens-if-openai-dies/
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