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Mark my words, this week new data will come out showing an uptick in all things inflation related, and by a larger-than-expected margin, the Fed will raise rate

Mark my words, this week new data will come out showing an uptick in all things inflation related, and by a larger-than-expected margin, the Fed will raise rates, and a lot of the hopium that’s been filling balloons for the last six months will rapidly dissipate back into gloomy despair. AI companies and related stocks (NVDA) will be first in line when people realizes we’re not going back to the world of free money in 2018 that fueled a number of hilarious pump-and-dumps over the last 5 years. Other than that, OP is correct in just about everything in the article - AI isn’t “artificial” or “intelligent”, it’s just a hype word to put on top of a relatively simple ecosystem of applications that may someday prove valuable, but for today are comically bad at everything that isn’t strictly a language exercise (e.g. producing soundalike copy, translating bits of code between apps, etc.). It’s presently a tool that can be no smarter than the user whose hands it occupies, and in fact requires a significant amount of investment to actually “learn” or take direction to be good at some specific tasks. Textbook hype case as far as I can see.

rvz 3y ago
Reading all the comments here tells me that we have not experienced a true crash in the market. AI has created a lot of euphoria pumped by VC money once again which can only result in disappointment of expectations since this is the 'pump' part of the hype cycle. Sooner or later we will see if any of these so-called AI companies are actually making any money or will survive at all. In 2010, almost everyone was a 'tech company'. Now almost everyone is a 'AI company'. This bullshit needs to stop.
- smoldesu 3y ago
  > In 2010, almost everyone was a 'tech company'. Now almost everyone is a 'AI company'. This bullshit needs to stop. Bingo. Good luck telling this crowd that, though - all they know is "black turtleneck" and pestering middle-aged Disney investors for cash. These AI companies provide marginal utility that will get swallowed by later iterations even if AI is a technical failure. The "industry" of AI is bound to fail whether the technology impresses us or not.
  - zerbinxx 3y ago
    Just curious why you think AI is destined to fail. Is it like a hard-AI is incompatible with consumer capitalism or a soft-AI is simply not a feasible money-maker within the current economy? Or just that a lot of this is overblown and won’t really amount to an real productivity revolution (or so the present line of investor hype-training goes)?

rvz 3y ago

Reading all the comments here tells me that we have not experienced a true crash in the market. AI has created a lot of euphoria pumped by VC money once again which can only result in disappointment of expectations since this is the 'pump' part of the hype cycle. Sooner or later we will see if any of these so-called AI companies are actually making any money or will survive at all. In 2010, almost everyone was a 'tech company'. Now almost everyone is a 'AI company'. This bullshit needs to stop.

smoldesu 3y ago
> In 2010, almost everyone was a 'tech company'. Now almost everyone is a 'AI company'. This bullshit needs to stop. Bingo. Good luck telling this crowd that, though - all they know is "black turtleneck" and pestering middle-aged Disney investors for cash. These AI companies provide marginal utility that will get swallowed by later iterations even if AI is a technical failure. The "industry" of AI is bound to fail whether the technology impresses us or not.
- zerbinxx 3y ago
  Just curious why you think AI is destined to fail. Is it like a hard-AI is incompatible with consumer capitalism or a soft-AI is simply not a feasible money-maker within the current economy? Or just that a lot of this is overblown and won’t really amount to an real productivity revolution (or so the present line of investor hype-training goes)?