It's a lead bubble
this post was submitted on 21 Oct 2024
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If you're invested in these stocks, make sure you have your stop loss orders in place, 100%.
I imagine the bubble bursting will be quick and deadly.
Set stop loss at 100%, got it 👍
Yeah, AI is really just a surveillance tool than anything else.
When AI "creates" something, it's just pulling up things related to words you typed in and making an amalgamation of what you typed in out of what it has.
The real purpose is for corporations and governments to look through people's devices and online storage at super speed.
this is why you all need to be using end-to-end encrypted storage for everything and VPNs with perfect forward secrecy
do your own research into the history of each provider of those things before you buy it
They couldn’t keep their heads on fucking straight during the .com bubble, and here they are doing it all over again.
No shit
Please please please please please please please please
People look at the advertising for this shit (and future tech-bro shit) and wonder, "who is this for"? Remember E.L.O.N. Exaggerated Lies Overlooked Narratives
Think of every manager and boss you've ever had. They don't think, they just do. Salesmen convince them using issues that don't exist, to sell solutions that don't really work, to people that don't understand how to use them. Repeat over 70 years and you have the modern American education system.
Now things are different. Money is scarce, things are getting tight. Tech-Bros have changed from a mildly infuriating strategy, to a downright abusive one. These simple minded managers think everything is under attack, and the only solution is what they already have, but heavily monetized and completely unusable.
Always invest in the spades never the gold mine
I went to a AI conference and you can just sense how bogus it all feels. Like "Our patent pending AI system references billions of crowd-sourced data points to identify what you are craving for breakfast! Never think about breakfast again!"
And as a engineer speaking with other engineers, we all collectively shrug and just keep taking the money. I'll AI your toaster for enough money IDGAF.
That's why Nvidia is making bank right now
And AMD won the console wars
AMD won because it has x86 CPUs and GPUs.
Playing the long game.
Meanwhile... At the Intel board meeting..... Qualcomm: (Unzips fly, unfurls testicles, placing them on the table for all to see) "I want to buy Intel".
Lol that was never a serious option. Regulators would never allow it. But it was Qualcomm trying to flex for wall street to see.
Yeah, but the 0.1% remaining will take over the world.
Does anyone remember the era when there were a million search engines? Google didn't spawn alone.
Same with Amazon. You think nobody else tried to make an online store in the 90s? Lol.
People are trying to vindicate their dislike of AI, pointing to trends like this as if it were supporting evidence. But saying "AI is going to be a big flop because 99% of companies today will end up failing" is as stupid as saying "online shopping will never work because 99% of online stores will close by the year 2010"
.com websites didn't disappear after the dotcom bubble burst either. AI is definitely in a massive bubble right now, but something being in a bubble doesn't mean it's going to vanish completely. The AI companies with some substance backing them will weather the upcoming storm.
Full disclosure: I don't hate AI, but I hate that management-types are fellating themselves to the idea of it or the things than it can potentially do, rather than something that is providing them some kind of concrete benefit right now. I'm also mad at consumers for being stupid little sheep and paying a premium for anything that companies just happen to slap an "AI-powered" sticker on. It's like organic produce 2.0 - you have to have it, but we can't explain why, nor can we elaborate on what it does better than it's contemporary.
Sure, but the difference here was that all those companies were offering something different. Some had better results than others, a better ui, more accuracy in certain niches, etc. But 99% of AI companies now are all effectively reselling the OpenAI API. They aren’t making an effort to differentiate themselves at all. It’s as if Google was the only shop in town, and everyone bought all their search data an algorithms to slap their logo on. That’s just simply not sustainable at anywhere near the scale it is now. This won’t be a 3-5 year decline, it’ll be a 2 month crash.
'Member nfts?
No one actually thought that they were a good idea it was just a bunch of con artists. It was a bubble for sure but it was an entirely artificially created one. There was no real business behind any of it.
I member
Same with Amazon. You think nobody else tried to make an online store in the 90s? Lol.
Fun fact: the first online store still exists. It's Pizza Hut. They launched an experiment for online ordering in 1994. The first company to ever sell a product on the web.
Yum brands has always been at the forefront of using tech to sell fast food. This was true then and is true now. Taco Bell has pioneered kiosks and in-app ordering as well as KDS in QSR environments.
That is a fun fact!
I doubt anyone is downplaying that. People are just discussing how all companies are pushing A.I into products that don't need it. Idk about you but I'm tired seeing A.I advertised as a feature on every app/site when it's just a gpt wrapper.
The rot has even spread into hardware. No one wants die space wasted on a stupid NPU with with less than 1/1000 of the computing power their GPU has and can't be used for anything other than local LLMs which FTI very few people use and those that do tend to have powerful Nvidia GPUs.
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No shit.
Like all new technologies, there is a time when bunches of companies jump on the band wagon to get in on the action. You can see it all throughout the history of the industrial revolution.
They mostly know that there will come a great weeding out of those that can't handle the technology or just fail from poor management. But they are betting they will be among the 1% that wins the race and remain to dominate the market.
The rest will just bide their time until the next Big Thing comes along. And the process starts over again.
AI companies specializing in spreading bullshit all across the internet have a bright future however
Yeah, but thanks to the glory of corporateworld, all the people involved in making these decisions will be in a higher position at a different company by the time the consequences come knocking.
You definitely will not regret spending billions of dollars on GPUs and electricity bills.
I'll be gone, you'll be gone.
This hurts so much. Being in the tech industry, I see it everywhere.
So, I have clients that are actively using AI on a daily basis and LOVE it. It is however a very narrow subset. Also, I’m pretty sure that a LARGE amount of Dollars are currently being spent on AI generated political articles.
The web didn't die after the dot com bubble burst. The AI bubble will burst, but a smaller niche of companies will continue to exist.
The dot com crash was because tech companies were massively overvalued and didn't have a proper business plan or profit. I definitely see some similarities with the AI bubble, especially with the large unprofitable companies like OpenAI. OpenAI isn't estimated to become profitable until 2029, and there's a lot of unknowns between now and then (e.g. maybe they'll be forced to license content they use for training).
Maybe it's like the dotcom bubble: there is genuinely useful tech that has recently emerged, but too many companies are trying to jump on the bandwagon.
LLMs do seem genuinely useful to me, but of course they have limitations.
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I am old enough to remember when the CEO of Nortel Networks got crucified by Wall Street for saying in a press conference that the telecom/internet/carrier boom was a bubble, and the fundamentals weren't there (who is going to pay for long distance anymore when calls are free over the internet? where are the carriers-- Nortel's customers-- going to get their income from?). And 4 years later Nortel ceased to exist. Cisco crashed too, though had enough TCP/IP router biz and enterprise sales to keep them alive even until today.
This all reminds me of the late 1990s internet bubble rather than the more recent crypto bubble. We'll all still be using ML models for all kinds of things more or less forever from now on, but it won't be this idiotic hype cycle and overvaluation anymore after the crash.
Shit, crypto isn't going anywhere either, it's a permanent fixture now, Wall Street bought into it and you can buy crypto ETFs from your stockbroker. We just don't have to listen to hype about it anymore.
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