[thaumasiotes]

> Nothing has ever been, directly or indirectly, deficit financed at this scale before. In notional or real terms, in history, by anyone.

I find it unlikely that this is true.

The obvious candidate for things financed through staggeringly large deficits would be war.

[harrouet]

True because wars finance value destruction.

But with $1.4T announced capex for the Frontier AI labs, we're not far from the 2nd (illegal) war in Irak: $1.8T of direct military spending.

With that said, I don't know how Frontier Ai companies will ever recover this capex with a glorious $50B of revenues. Add to that that a GPU's lifetime is only a few years and you may see it as a deadend.

NB: did you know Uber destroyed $27B of value since inception? But it still exists. So Frontier AI might just do the same.