Google CEO: If an AI bubble pops, no one is getting out clean

Comments

• tirednapstablook@lemmings.world ⁨4⁩ ⁨months⁩ ago

  I’ll be fine.

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• A_norny_mousse@feddit.org ⁨4⁩ ⁨months⁩ ago

  Let’s be very clear: Pichai is one of the Very Big assholes whose name should be uttered in the same breath with Thiel, Altman, Zuckerberg etc.

  He drew comparisons to the late 1990s Internet boom, which saw early Internet company valuations surge before collapsing in 2000, leading to bankruptcies and job losses.

  “We can look back at the Internet right now. There was clearly a lot of excess investment, but none of us would question whether the Internet was profound,” Pichai said. “I expect AI to be the same. So I think it’s both rational and there are elements of irrationality through a moment like this.”

  Equating the dot-com bubble with the internet. Only a $trillion company CEO could spout such bs. And the misinterpretation translates very well to AI.

  Frankly, what I’m getting from this article is “Hey, we’re not the #1 in the current hype, so would everybody else please slow down a little so we’re all at least on equal footing again?”

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  • floquant@lemmy.dbzer0.com ⁨4⁩ ⁨months⁩ ago

    AI winters and history repeating itself. As a concept it’s here to stay, but every incarnation leads to a cycle of misconception, hype, and disillusionment

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• just_another_person@lemmy.world ⁨4⁩ ⁨months⁩ ago

  This is code for “Hey government, you better be ready to bail us all out”.

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• sirico@feddit.uk ⁨4⁩ ⁨months⁩ ago

  That money goes somewhere so some people will be getting out better

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  • supamanc@lemmy.world ⁨4⁩ ⁨months⁩ ago

    It doesn’t work like this though. If your pension fund is heavy into a company that suddenly loses 90% of its value, your pension suddenly becomes worth a lot less…

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    • sirico@feddit.uk ⁨4⁩ ⁨months⁩ ago

      Some people wouldn’t be those people then would it?

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• aramis87@fedia.io ⁨4⁩ ⁨months⁩ ago

  [he] addressed the “immense” energy needs of AI, acknowledging that the intensive energy requirements of expanding AI ventures have caused slippage on Alphabet’s climate targets. However, Pichai insisted that the company still wants to achieve net zero by 2030 through investments in new energy technologies. “The rate at which we were hoping to make progress will be impacted,” Pichai said, warning that constraining an economy based on energy “will have consequences.”

  We need "line go up" so badly, we're willing to bake the planet.

  “We will have to work through societal disruptions,” he said, adding that the technology would “create new opportunities” and “evolve and transition certain jobs.”

  Someone once described AI as "a way for the wealthy to access the benefits of the skilled, without allowing the skilled to access the benefits of wealth".

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  • explodicle@sh.itjust.works ⁨4⁩ ⁨months⁩ ago

    Any economy or technology that can’t work within energy constraints doesn’t deserve to exist. For fuck’s sake, even Bitcoin adjusts difficulty down during its frequent crashes.

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  • hummingbird@lemmy.world ⁨4⁩ ⁨months⁩ ago

    Oh the great technology god will help us. We will have so much reduction, you cannot imagine! We have no idea how but surely throwing money at it will get things done. Trust us!

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  • LainTrain@lemmy.dbzer0.com ⁨4⁩ ⁨months⁩ ago

    or since there are FOSS AI models that are free as in free beer it allows everyone to access the benefits of the privileged - i.e. those who can specialized in fields like arts that aren’t conducive to making enough money out of the gate to survive as a working class person

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    • MrSmith@lemmy.world ⁨4⁩ ⁨months⁩ ago

      “Privileged” lol.

      If you couldn’t make a poem before “AI”, you still can’t make a poem now.

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• minorkeys@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Too big to fail is too big to exist. Break them up.

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  • Clent@lemmy.dbzer0.com ⁨4⁩ ⁨months⁩ ago

    Too big to not let fail.

    That was lesson.

    I’m sure we managed to avoid learning it.

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    • minorkeys@lemmy.world ⁨4⁩ ⁨months⁩ ago

      We all learned the lesson but the people who could implement the lesson refuse to because it isn’t to their personal advantage. We all know what the wise thing to do is but that would disempower some very rich and influential people who should never have been allowed to grow to be so influential over the state, aka us, that we can’t stop them from forcing us to pay for their speculative risk taking.

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  • manxu@piefed.social ⁨4⁩ ⁨months⁩ ago

    You speak the truth. These idiots sank trillions into a technology that people are very meh about. If it all comes crumbling down, they really, really have nobody to blame but their own greed.

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    • minorkeys@lemmy.world ⁨4⁩ ⁨months⁩ ago

      They forced massive shifts across the economy and wasted massive resources chasing a speculative technology all for power. We all suffer because of this and the government refuses to deal with it because we elect business friendly, ambitious liars.

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• comador@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Wall Street didn’t learn from past events and is doomed to repeat history?

  Shocking… /s

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  • IronBird@lemmy.world ⁨4⁩ ⁨months⁩ ago

    until the US regulates it’s financial markets for the common good like most of the rest, it will forever remain the country of shortsighted degenerate gamblers

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  • WanderingThoughts@europe.pub ⁨4⁩ ⁨months⁩ ago

    They’ve learned they can get away with it.

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  • ideonek@piefed.social ⁨4⁩ ⁨months⁩ ago

    Oh, they learned. We thought them that no one will be accountable and that the greediest will be bailed out and continue to get richer and richer. We are keeping jackals in our house, and we are giving them a pat on the head and a tasty treat every time they bite our children.

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    • tirednapstablook@lemmings.world ⁨4⁩ ⁨months⁩ ago

      Why are we so stupid?

      It feels like we’re being ruled by think tanks.

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  • minorkeys@lemmy.world ⁨4⁩ ⁨months⁩ ago

    They learn how to profit the next time.

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• paraphrand@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Was that a threat?

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  • mmmac@lemmy.zip ⁨4⁩ ⁨months⁩ ago

    What part of that article read like a threat to you lol

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  • A_norny_mousse@feddit.org ⁨4⁩ ⁨months⁩ ago

    Was that a threat?

    “Google might break! Please be careful!” - the threat of a good time.

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  • goondaba@lemmy.world ⁨4⁩ ⁨months⁩ ago

    Lol that’s how I read it, or at least trying to suggest they’re in a Mutually Assured Destruction scenario.

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    • WanderingThoughts@europe.pub ⁨4⁩ ⁨months⁩ ago

      “No bail-out, no economy” basically.

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• popekingjoe@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Good good. Let it all fall apart.

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