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by lgleason
324 days ago
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Have we made some significant advancements similar to what happened with the Internet back in the 90's with HTML? Yes. But, this is a bubble we are currently in just like the .com bubble with lots of irrational exuberance. That said, that job market is not as crazy as it was during .com, in fact right now most technologists are finding it more difficult to find work at the moment. Most of this AI hype started when the employment market started to slow down. Usually these bubbles pop after the employment market goes crazy. The employment starts to go nuts when crazy money enters the picture. So if, for example the fed really starts to cut rates and/or investment starts to really pick up and we have another boom period, the tail end of that seems to historically be when the bubbles pop. Put another way, there is a good chance that the bubble will continue to inflate for a few years before it pops. |
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Meta has been offering 7 figure salaries for AI talent. This is a very different bubble from the .com bubble. The hiring frenzy in this limited to a very small group of people with unique skills/experience that few people posses. While at the same time thousands of other people are being let go in order to pay those big salaries to a few people (and in order to buy more GPUs). The C-suite has become obsessed with the idea that they're going to need much fewer engineers and they're hiring/firing like it.