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Larry Summers???? What he has to do with AI??
by qualifiedai 3y ago
Larry Summers???? What he has to do with AI??
- jen_h 3y agoI had not heard that man’s name in several years—and was happier for it. Larry Summers making decisions for OpenAI doesn’t bode well at all.
- dragonwriter 3y ago> Larry Summers???? What he has to do with AI?? Nothing, he has to do with political connections, and OpenAI's main utility to Microsoft is as hand puppet for lobbying for the terms it wants for the AI marketplace in the name of OpenAI's nominal "safety" mission.
- arduanika 3y agoEasy. AI discourse has gone insane, on both sides, and is sorely in need of perspective from grounded, normal adults with a track record of moderation and shooting down BS. Summers is a grounded, normal adult with a track record of moderation and shooting down BS. Ergo, he's immanently relevant to AI. He's also financially literate enough to know that it's poor form release market-moving news right before the exchanges close a Friday. They could have waited an hour.
- mempko 3y agoLarry Summers is not financially literate.
- astrange 3y agoWell he is certainly financially literate. He's just often wrong and incapable of admitting it, as is normal behavior for important economists.
- mempko 3y agoBeing financially literate means being able to understand how the financial system works. Larry Summers thinks operate as intermediaries lending out deposits. This is very wrong. He is not financially literate. He is an economist.
- astrange 3y agoI think Larry Summers probably knows what a central bank is. But "how money creation works" isn't the same thing as "how the financial system works". I guess the financial system mostly works over ACH. We can see what happens when banks don't lend out deposits, because that's basically what caused SVB to fail. So by the contrapositive, they aren't really operating then.