The more I learn about AI the more I feel like it’s another dot-com bubble.
LLMs and generative AI are such multifaceted systems that saying “this is for AI” is like saying “this is for the WWW”
Databases, interfaces, storage, networking. All are used in AI but if you just say you make a database and not and “AI database” you’ll lose out on investors.
It’s a bit like the gold rush in that everyone is so fixated on the gold that they don’t see the real economic boom is selling the shovels and building the trains.
That’s because it is another bubble. They’re all bubbles IMO. Since the boom of the internet they’ve all been scrambling from one fools gold rush to the next. Crypto, nft, metaverse, AI. Heel even social media that was given freely isn’t returning the expected investments and that’s why they’re all enshitiffying.
That’s the thing though, free social media was giving them massive returns. But the line must go up. And once they completely saturated the market, there are only two ways to make the line go up: expand the market (give Internet to communities that didn’t have it), or extract more money from your existing users (enshittify). Facebook made a half assed attempt at the first one for a couple years, then pivoted hard to the second.
Investors include Intel (Pat Gelsinger, net worth ~82m), Dell (Michael Dell, ~112b), and SoftBank (Masayoshi Son, ~29b). Probably others, but I’m on my phone so getting this info is awkward.
The AI advertising is just a symptom of the underlying issue; VC funding.
The more I learn about AI the more I feel like it’s another dot-com bubble.
LLMs and generative AI are such multifaceted systems that saying “this is for AI” is like saying “this is for the WWW”
Databases, interfaces, storage, networking. All are used in AI but if you just say you make a database and not and “AI database” you’ll lose out on investors.
It’s a bit like the gold rush in that everyone is so fixated on the gold that they don’t see the real economic boom is selling the shovels and building the trains.
That’s because it is another bubble. They’re all bubbles IMO. Since the boom of the internet they’ve all been scrambling from one fools gold rush to the next. Crypto, nft, metaverse, AI. Heel even social media that was given freely isn’t returning the expected investments and that’s why they’re all enshitiffying.
That’s the thing though, free social media was giving them massive returns. But the line must go up. And once they completely saturated the market, there are only two ways to make the line go up: expand the market (give Internet to communities that didn’t have it), or extract more money from your existing users (enshittify). Facebook made a half assed attempt at the first one for a couple years, then pivoted hard to the second.
People have been using AI tech for decades. It’s just marketing terms come and go.
Well there’s your other problem.
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Next, you’re going tell me a billionaire’s involved somehow!
Looks like it’s Michael Dell and Masayoshi Son.
Investors include Intel (Pat Gelsinger, net worth ~82m), Dell (Michael Dell, ~112b), and SoftBank (Masayoshi Son, ~29b). Probably others, but I’m on my phone so getting this info is awkward.
Yeah, a few years ago they advertised themselves as the perfect storage solution for blockchain projects.
VC?
Venture capital