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Yes we’ve traditionally called it a Ponzi scheme or pyramid. We are in the part of the cycle where no one actually has to make money from AI. We’ve been here
by Mistletoe 3y ago
Yes we’ve traditionally called it a Ponzi scheme or pyramid. We are in the part of the cycle where no one actually has to make money from AI. We’ve been here before with Uber and WeWork. All these free queries aren’t free and run on incredibly expensive hardware. The final endgame is a Dyson sphere around the sun so that we can ask ChatGPT-XX if it’s raining outside and the owners of the AI and chip companies blast off to their colony on Mars.
- lotsofpulp 3y agoHow is it a Ponzi scheme or pyramid?
- datadrivenangel 3y agoYou use later stage investments to pay off the earlier investors. Eventually, you go and IPO and the general public cashes out the later investors and then the stock goes to zero.
- lotsofpulp 3y agoIs the plan or expectation of the stock to go to zero (or otherwise dropping precipitously)? If not, I do not see the value in labeling it a Ponzi scheme. If there exists a business plan and the bet is to invest in something that provides utility, then it seems like any other investment in any other business.