Posted by dherls 5 hours ago
Usually company "experiments" are typically hush hush, not blasted on every corporate media channel as a means to boost your company holdings.
For some reason, he does not look like a man whom I would trust with my money, but it appears that there are enough rich investors who disagree.
I mean, even Andresson-Horowitz was taking NFT's seriously as though they weren't a scam only a few years ago (https://a16z.com/the-nft-starter-pack-tools-for-anyone-to-an...).
These people are also looking (and funding) quantum computing companies as though quantum computing is right around the corner after AGI.
They need to cool their jets. AI is certainly a worthwhile and super important development, but it's still possible to go overboard with it.
One of the challenges here is that a lot of folks simply weren’t around then and haven’t seen what happens when everything implodes overnight. Those that have experienced it know what that looks like and know it will happen again.
Whereas this is a very weird bubble where it creates big pumps in some equity prices but apart from a tiny number of people who are directly involved in AI research etc. it's not created any jobs, in fact by creating uncertainty it's probably caused fewer jobs to be created.
What that means for labour market dynamics when it pops I really don't know
In fact "pure" bubbles where the focus item is of literally no value (tulips, NFTs) are quite rare. Much more common are the bubbles based on an actual real transformative innovation (canals, railways, radio, internet, LLMs).
Railways did absolutely transform how travel worked in the UK, while simultaneously almost everyone who invested in them lost their shirts
Now imagine an entire economy working like that. Like say, LLM's are good enough to run entire companies but you don't get to run a company because you are good at it. LLM's can perfectly manage employee schedules but the real job is more like marriage counseling or group therapy. Somewhere along the road we forgot which jobs make the economy go. They are probably the ones with the lowest salaries as those lack the effort of conjuring the job into existence.
Humanity needs obvious things cloths, food, housing, transportation etc but that isn't where the money is. The people cooking the books have the money and they are looking for something like a book cooking book. The market for openAI will be in lying convincingly for the benefit of the investor. Reality must be auctioned off like domain names or search engine placements. Altman is really the perfect guy for the job no one wants. ha-ha
Alternatively we could humble ourselves, ask the Chinese how reality works and attempt to steal their fu. It's just a thought.