If there's one thing I've learned with a career in tech, it's that people who finance this stuff rely almost entirely on signaling from peers to make their deci

If there's one thing I've learned with a career in tech, it's that people who finance this stuff rely almost entirely on signaling from peers to make their decisions. They are fundamentally incapable of evaluation based on merits and in my experience are rather deaf towards "obvious" signs of progress like the release of DALL-E, until they see it shows up frequently on Twitter. As it turns out, having a highly privileged upbringing where you are evaluated purely on "success" (procuring more wealth) leads to a lot of "this is like studying for a test and passing". But, you haven't developed a sense of intrinsic reward and care way too much about social reward instead. Sometimes these will align. Having said all of that - I think this tweet thread is really only applicable to the funding side of things (and I imagine it's quite true in that regard). But comparing the real results of machine learning over the past few years with...Web 3? That's a stretch. This caveat is cleared in the thread but it bears repeating. Web 3 was a grift designed to allow major players to cash out their "coins" back to real USD by rounding up a final batch of greater fools.