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Comment on Baidu CEO warns AI is just an inevitable bubble — 99% of AI companies are at risk of failing when the bubble bursts

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lennivelkant@discuss.tchncs.de ⁨11⁩ ⁨hours⁩ ago

It can! For a while. Isn’t that the nature of speculation and speculative bubbles? Sure, they may pop some day, because we don’t know for sure what’s a bubble and what is a promising market disruption. But a bunch of people make a bunch of money until then, and that’s all that matters.

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vritrahan@lemmy.zip ⁨9⁩ ⁨hours⁩ ago
The uncertainty of it is exactly why it shouldn’t suck up as much capital and resources as it is doing.

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- lennivelkant@discuss.tchncs.de ⁨9⁩ ⁨hours⁩ ago
  Shouldn’t, definitely. But for a while, it will keep running, because that’s how a lot of speculative investment works.
  
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  - vritrahan@lemmy.zip ⁨8⁩ ⁨hours⁩ ago
    I agree, and the problem is finance capitalism itself. But then it becomes an ideological argument.
    
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    knightly@pawb.social ⁨5⁩ ⁨hours⁩ ago
    The argument could be made economically rather than ideologically.
    
    Capitalism has a failure mode where too much capital gets concentrated into too few hands, depressing the flow of money moving through the economy.
    
    But Capitalists start crying “Socialism!” as soon as you start talking about anti-trust.
    
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knightly@pawb.social ⁨11⁩ ⁨hours⁩ ago
Tulips all the way down…

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