[kurthr]

I agree and disagree with different parts of this article. I've read/seen a lot of the source documentation so I think there's plenty of hyperbole, even if there's a nugget of truth.

   Because the “The AI Bubble Is 17 Times the Size of the Dot-Com Frenzy — and
   Four Times the Subprime Bubble” (oh, and also, there is also a new subprime
   bubble—and it’s already collapsing, which will make all of this worse).

It's not 17 times the size of the Dot-Com, certainly not scaled with the total market valuation. Much of the money that has been "promised" has not be delivered and there is a LOT of circularity to the funding, but it's not $Trillons yet. Many of the companies are still private, haven't gone up much, or are only fractionally floated so the numbers look big. But, it doesn't look like there's a huge moat, and it's going to be expensive to pay for those training servers with inference. The depreciation is all wrong, they're not in the right places, and power consumption isn't optimized. TSMC is probably gonna sell more chips to make it so.

At the same time, it's great to be a user of a "free" product. LLMs work as well as Google search used to! It's great! You can't believe everything you read on the internet, but if you know enough to verify it, it's incredibly useful. If you build an OpenClaw footgun, you deserve the consequences, even if your other victims probably don't. Will the "AI" companies end up paying for it all by exfiltrating their "customers' data? Facebook and Google did.