Comment by mirmor23
4 days ago
AI hype is real, and there is a lot of perverse incentive to keep the hype cycle going. You are right about that.
Rest of your analogy/arguments are just a lot of nonsense too.
Electricity is valuable, and by that logic Siemens Energy should build and own all factories under the sun. TI should stop selling their calculators and compete in Math Olympiad instead!
TI should stop selling their calculators and compete in Math Olympiad instead!
Can they make more money doing this? I don't think so --- and apparently, they don't either.
Finance and equity markets would be the first place I would look to apply "super intelligence" for huge, quick cconomic returns.
Instead, they peddle "tokens". Wonder why?
Because it turns out capital markets are actually reasonably efficient and throwing more "brains" at them yields steeply diminishing returns in increased allocative efficiency, compared to deploying those same "brains" as capital to produce output commodities?
Ever hear of arbitrage and hedge funds?
These companies exist specifically to identify and take advantage of aberrations and inefficiencies in capital markets.
This is something I would expect "super intelligence" to excel at.
https://en.wikipedia.org/wiki/List_of_hedge_funds
4 replies →
Redbull gives you wings.
afaik Siemens Energy never pushed the argument that electricity would be able to do everything humans can within a year or so...
Yes, obviously there's a whole lot of relationship building and effort and judgement which matters at least as much as infrastructure in building businesses, but the whole schtick of Big AI is to insist their product is better than humans at planning and market analysis and building and sales and marketing and especially at effort and concentration, and they're obviously better capitalised than startups using AI to do something in a particular vertical, so if they believe their own hype, why not?
> afaik Siemens Energy never pushed the argument that electricity would be able to do everything humans can within a year or so...
If they had pushed that argument, would it have changed how useful electricity is?
No, but it would mean that they were overhyping how useful electricity was to and it was worth pointing out that if they actually believed what they said, they'd be trying to do everything they said they could do rather than just being a utility company...