I feel like you’re kinda underselling Hank Green a bit. I mean he is the CEO of like a million companies. But it’s fair to say he doesn’t have a finance background at the very least.
paultimate14@lemmy.world 6 days ago
Kind of gross how this article seems to be trying at every turn to say, “no ai is actually good! It helped us catch the bad businessmen that happen to be in the AI industry!” By focusing on a tiny trading period on November 20th.
Hank Green isn’t a finance bro or an AI guy or even really a tech guy. He’s just a guy reacting to things that are trending, and I remember I had seen the main graphic he was talking about floating around the internet for a while before I watched the video. People have been calling AI a “bubble” for much longer.
I am old enough to remember the report that 95% of generative AI companies failed to see returns from using it. That was back in August.
I don’t like giving credit to “trading algorithms” for things that humans figured out a long time ago.
StrongHorseWeakNeigh@piefed.social 5 days ago
paultimate14@lemmy.world 4 days ago
Oh yeah I have as much respect for him as I can have for any other celebrity I’ve never met or interacted with at all. I just wanted to get ahead of anyone responding to me pointing out that he’s not particularly qualified on this subject.
The reason I referenced him at all was not because of his qualifications, but as a way of establishing how popular these conversations were on the internet at the time. In that sense, the fact that he’s not an AI or finance expert and doesn’t specialize in such content speaks to how widespread the topic was at the time.
onlyhalfminotaur@lemmy.world 5 days ago
I didn’t get the impression that the author is touting ai, only stressing that software caught the fraud.
W3dd1e@lemmy.zip 5 days ago
Don’t say AI found it, just an algorithm caught it.
Could have been as simple as a spreadsheet highlighting cells with a ratio that was below a threshold.
Article didn’t say what software was used.
Alaknar@sopuli.xyz 4 days ago
But the AI or algorithm didn’t catch it - humans did just fine with that part.
W3dd1e@lemmy.zip 4 days ago
Yeah! I saw reporting on this months ago.
What I appreciated about this article was the detail about how they tried to hide it.
Also I love GN. Thanks for sharing!
Croquette@sh.itjust.works 5 days ago
There was a meme going around a month or so ago of 5 AI companies jerking off, representing the circular financing that this article talks about.
From the moment these “investments” were announced, people were already raising flags about circular investments.