| Here's another possibility: 1. There are fewer new products normal people want to buy, especially in tech. 2. Inflation is making the everyday things people need more expensive. 3. VC money for the most popular products ran out and companies are jacking up prices. 4. Concerns over tech's impact on health is limiting tech use and more negative sentiment. All of this is causing a slowdown in tech and AI could be the perfect fix: 1. Shiny new product for people to buy. 2. Reduce costs and increase margins right when it's most needed. 3. Justify more investment in the space (super intelligence = best VC investment ever). 4. Solve bread and butter problems in health, education, etc. if safety is prioritized. My guess is that this need for AI is causing a lot of the tech sector to overestimate how quickly AI will revolutionize things, similar to getting "flying car" predictions right at the top of the automotive s-curve. I believe AI will have a big impact in the long-term but no where close to as quickly as most people believe, and that the short-term impact will be limited to more narrow use cases. I also believe we're going to see a big rebound to people doing work in the next few years. Many here likely disagree with me and it will be interesting to see how everything plays out. |