And the world’s 5 biggest companies their total market cap is a bit over 8 trillion dollars, which is also mind boggling, that so much capital is concentrated in the hands of so few people or shall we say mega corporations.
Comment on OpenAI wants to raise 5-7 trillion dollars. Yes, Trillion
whoelectroplateuntil@sh.itjust.works 4 months ago
For perspective, global annual GDP is $105 trillion, which means Altman is asking the world to invest 6.7% or so of the entire world’s economic output for one year in his company.
filister@lemmy.world 4 months ago
FauxPseudo@lemmy.world 4 months ago
Came here to say this. Does she know how much money there is in the world? He is asking for basically 1/20th of all the money in the world. Even if that was possible it would be dangerous for one company to hold that much.
hglman@lemmy.ml 4 months ago
Money can be created by banks via loans, you can just make it up.
FauxPseudo@lemmy.world 4 months ago
But then you end up with inflation. So in the process of creating money you’ve reduced the value of the money. And banks working in cooperation with government create money. Private companies outside of the banking system can’t create their own money anymore. If any sizable portion of this is taken out as a loan. It creates a systemic risk for the world economy.
hglman@lemmy.ml 4 months ago
Banks most certainly make up money today via loans. This happens all the time.
keefshape@lemmy.ca 4 months ago
Holy fucking bonkers when you out it that way. Like holy fuck.
Are they that close to something amazing, or is Altman going true Dr Evil megalomaniac?
whoelectroplateuntil@sh.itjust.works 4 months ago
There’s no denying it, they really are believers over there at OpenAI. Who in history would have the gall to ask for more than the federal budget for a single company unless they thought they were gonna change the world? He’s a billionaire, he already won capitalism, he’s got more than he could ever spend. You only ask for $7 trillion if you think you can change the world. However, he’s downright megalomaniacal.
Basically, if he’s right that this is the most important tech in world history and deserves $7 trillion in research, it’ll make OpenAI the du jour monopolist over said most important tech in world history. Outright dystopian.
I believe strongly in machine learning/deep learning, but not capitalism.
Telodzrum@lemmy.world 4 months ago
Generative AI is not an important development. General AI would be. This is just a party trick.
whoelectroplateuntil@sh.itjust.works 4 months ago
Yeah, AI’s been a whole field for many decades, machine learning and deep learning is a whole field that existed and was doing tons of interesting work before transformers came out. Companies use party tricks to gin up interest and money for their work all the time. None of this changes the fact that AI is important? You think ChatGPT is the end of the line for modern AI research, for real?
KevonLooney@lemm.ee 4 months ago
It’s also open source too. With faster chips and standard training sets, it will be trivial for anyone to train a basic AI to recognize fire hydrants or whatever. Just like with computers, the “revolution” will not be one giant company but every business using their own.
Your fridge only needs to recognize food items. It doesn’t need any more intelligent software. I want a food recognition AI and cameras in the fridge and cabinets so I know what food I need to buy. This doesn’t even need live cameras (for power consumption, privacy, and storage). It can just take a picture and analyze it when the door opens, then delete the picture.
scarabic@lemmy.world 4 months ago
Generative AI pales in importance compared to General AI but it is still an important development on its own.
FonsNihilo@lemmy.ca 4 months ago
Remember the rumors that Altman was fired because he found a breakthrough in general AI?
scarabic@lemmy.world 4 months ago
Read the last paragraph of the OP at least. This is not asking for $5 trillion to be handed solely to OpenAI to go become a world monopoly on chip manufacture. What he’s really asking is for investors to direct funds to radically increasing world compute capacity, to the profit for the chip manufacturers and likely many others. OpenAI just gets to continue the track it’s on without this constraint. There is nothing here about them monopolistically controlling this entire investment and in fact the opposite is true: it’s framed as a broad partnership venture.
Snapz@lemmy.world 4 months ago
They’re as close as theranos was, just need the money and “two more years”.
Sorgan71@lemmy.world 4 months ago
theranos never changed the world, openai already has
ShittyBeatlesFCPres@lemmy.world 4 months ago
Eh, not really in a positive way yet. I use it for quick code snippets but it’s not all that important compared to the fact that misuse of generative A.I. is making so much information on the Internet completely worthless. I don’t think the trade-offs have been worth anything we’ve seen yet.
I’m bullish about a lot of generative A.I. use cases long term but they haven’t accomplished much positive yet and there’s still major, major scaling issues that may not be solved soon. It could easily be like self driving cars where progress stagnates. A lot of times with software, the first 80% is easy and the last 20% takes a decade longer than people expect.
phoenixz@lemmy.ca 4 months ago
That change has mostly br a bunch of empty promises. There is no AI yet, there is machine learning, which is just an ingredient. As impressive as they are, they’re mostly useless
assassin_aragorn@lemmy.world 4 months ago
I don’t know if creating and tying yourself to a bubble that’s inevitably going to burst is exactly a great way to change the world.
scarabic@lemmy.world 4 months ago
It may not be bonkers at all though. If we look at it as taking money and food out of people’s mouths for a year then yes it’s a lot. But how much free investment capital is there in the world at any given time? Wealth has been accumulating and accumulating in rich people’s investment portfolios for ever and ever. How many Trillions get allocated in any given year? All Altman is saying is that he wants 5 of those to be allocated here and not somewhere else. It’s not necessarily taking rice out of any children’s mouths.
Kolanaki@yiffit.net 4 months ago
“Ahh fuck it. Let’s just hijack a nuclear weapon and hold the world hostage.”
Eggyhead@kbin.social 4 months ago
These days Dr. Evil would still get laughed at for demanding the $100 billion.
Kolanaki@yiffit.net 4 months ago
For being too high or being too low, like when he asked for a million dollars?
Hackerman_uwu@lemmy.world 4 months ago
Ye and he wants it for a fucking chatbot.
jaybone@lemmy.world 4 months ago
They are that close to cocaine.