| Simple minds want to believe one simple thing and then rationalize everything else to force consistency with that one simple idea. If you want to believe the simple idea that AI is mostly hype, then you'll get stuck in a multi-year loop talking about stochastic parrots, ridiculous valuations, and doomer scaredycats. But the real world isn't so simple. Multiple seemingly contradictory things can be true at the same time. Some AI is useless. Some is incredibly powerful and useful even though it makes mistakes. Some companies are wildly overvalued. Some extremely large and expensive companies will quadruple from here. Some frightening scenarios will look silly in hindsight. Other frightening things will happen that none of the doomers foresee. It would be great to explore those new ideas and possibilities. It's so boring rehashing the same old tired and worn out ideas like "they're just hyping the danger to pump their shares up." |
The question is not whether AI is useful. It is useful, full stop.
The question is whether AI is useful enough to justify valuations that dwarf the GDP of all but the top 20 countries in the world. As it stands right now, it's not even close! The leaked OpenAI financials put these AI companies in the same profitability territory as utilities, with zero justification for these crazy valuations.