Comment by sejje
4 days ago
Are shovels just another get rich quick scheme? If they were really all that, they wouldn't be selling shovels to the public. They would be forming corporate partnerships, digging dirt and conquering markets--starting with the mining industry.
I mean… the origin of that analogy is selling shovels to gold miners in the 1849 gold rush. Most of those miners found absolutely nothing.
So if I am following this correctly, NVIDIA is todays shovel sellsmen?
Others, not miners, also made a lot of money. Personally I recommend investing in AI but not LLMs. I expect John Deere to make a lot of money implementing more AI in farm equipment.
NVIDIA is one type of shovel salesman, yes. So are all the big AI companies. And all the other companies we call “hyperscalers”.
The problem is that they have to spend so much time and money inventing new types of mines, for which they need to be the shovel salesmen.
They’re also called “snake oil salesmen”. Or “Robber Barons”.