Comment by sigkill
8 hours ago
It also sustains the bubble for a bit longer. I'm genuinely curious/anxious to see when and how the bubble bursts. It could end up being something seemingly trivial or random and completely illogical that finally topples the jenga tower.
> the bubble
> the jenga tower
I am not so sure about these narratives anymore.
Both bubble and Jenga tower are examples of unstable systems that can persist for an unexpectedly long time.
They're good analogies. It's possible to keep a Jenga tower going forever, just extremely difficult once it reaches the point of being all middle pieces.
1 reply →
I don't think it's a bubble
The dot com boom was a bubble. Doesn't mean that the underlying web technology that powered it was bad or worthless. But the valuations definitely were. AI, in its current form, will be around for a long time, maybe even as ubiquitous as the internet is today, a few decades from now. But the situation right now can definitely be classified as a bubble.
It’s a bubble. “AI” could be quite successful at this point, and the economics still don’t work out.
Parts of it can be a bubble while other parts are not. The need for datacenters can be real while the valuation of model providers can be a fantasy.
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The economics work out just fine. Their actual target business model is replace every knowledge worker. Their thought process is "look at all these people making 150k+, we can do their jobs for 10% of that, think how much money that would be if we had all of it"
Sure, the next step is complete regression to feudalism, but they aren't thinking that far ahead, they just want to take every job in existence that isn't physically turning a proverbial wrench.
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well, according to finance bros, shovelling cash into a furnace to power a boiler to steam some eggs is considered a wild success. Economics is for normies.