[latexr]

> and that unlocks a bit of value out in the world.

> Don't take my word for it look at the proposed valuations of AI companies. Clearly investors think there's something there.

Investors back whatever they think will make them money. They couldn’t give less of a crap if something is valuable to the world, or works well, of is in any way positive to others. All they care is if they can profit from it and they’ll chase every idea in that pursuit.

Source: all of modern history.

https://www.sydney.edu.au/news-opinion/news/2024/05/02/how-c...

https://www.decof.com/documents/dangerous-products.pdf

[Terr_]

> Investors back whatever they think will make them money.

A not-flagrantly-illegal example of this might be casinos, where IMO it is basically impossible to argue the fleeting entertainment they offer offsets the financial ruin inflicted on certain vulnerable types of patron.

> All they care is if they can profit from it

Notably that isn't the same as the business itself being profitable: Some investors may be hoping they can dump their stake at a higher price onto a Greater Fool [0] and exit before the collapse.

[0] https://en.wikipedia.org/wiki/Greater_fool_theory

[Gormo]

> They couldn’t give less of a crap if something is valuable to the world

"The world" is an abstraction: concretely, every bit of value that is generated within that abstraction accrues to someone in particular -- investors in AI projects, for example.