alt Hacker News> I'm worried that the seven companies that comprise 35% of the S&P 500 are headed for bankruptcy, as soon as someone makes them stop passing around the same $100b IOU while pretending it's in all their bank accounts at once.
What makes this author so convinced that these companies are headed for bankruptcy? Is it possible to bet on this claim? We can come back 2-3 years later to check if even one of them is bankrupt.
This kind of doomerism is strange and I'm concerned for people who fall for such obviously nonsensical takes. Why do people take this person seriously again?
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I think you really need to have boots on the ground in the AI cinematic universe to keep up and separate the wheat from the chatGPT. It's moving fast, warts and all, and I agree with Jensen Huang's take that we don't even need further advances in the technology to base a new industrial revolution on it.
But it's pointless to argue with the extremists that either believe it's just a planet killing stochastic parrot or that it's on the verge of becoming Skynet. I mean if someone puts their nuclear arsenal under the control of openclaw, that's dark comedy although it will seem like tragedy at the time because comedy equals tragedy plus time according to Lenny Bruce.
But the AI bubble is probably real w/r to shoe companies and grocery stores pivoting to AI and ludicrous w/r to the money that can be made by the already entrenched players just riding the wave of deployment and specialization. But wouldn't it be nice if the US spent more money addressing the shortage of compute rather than blowing $h!+ up for the lulz?
What good is a bet you won't be able to collect on if it happens?
They are not convinced, simply worried. If you look at Nvidia, Microsoft, OpenAI, Oracle, etc that is sort of passing around 100B usd without it actually resulting in anything being produced, it becomes worrying. I don't think the author is convinced, simply worried.
Specifically, it is the act of "I will invest 100 Billion in you, you will use that money to buy 100 Billion worth of goods from me. Both our balances look good, none of us spent anything." As I understand it, this act isn't so uncommon in finances but never on this scale across this many companies.