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I've stopped believing in rational markets a long time ago. For the people behind this funding madness: > to skew markets, skew the financials of big tech and

I've stopped believing in rational markets a long time ago. For the people behind this funding madness: > to skew markets, skew the financials of big tech and create a bubble in the space. Are the intended consequences of this. The people behind the money in AI, just like the people behind the money in crypto, don't care if there's a reality to all of this, they just care if they can make a lot of money while the music is playing. I really thought 2022 was going to be the beginning of tech returning to reality, but naively didn't understand that this would entail a lot of people with a lot of money losing money, and that's not going to happen. As with all bubbles, the interesting thing isn't pointing out there's a bubble, we've been living in many bubbles for decades now. The interesting thing is pointing out what will make it pop. So long as globally money keeps pouring into US markets we'll see this continue. On the plus side, at least LLMs are a lot of fun to work and play with!

rchaud 3y ago
"Efficient markets" deliver normal returns. The people with the most capital to throw at things are trying to create monopolies that can generate supernormal returns. This is already a highly unstable arrangement, and it's made more dangerous by introducing impurities like artificially suppressed interest rates and SPAC IPOs.
throwup238 3y ago
> I've stopped believing in rational markets a long time ago. It makes a lot more sense if you think of markets as just a bunch of coked out hairless monkeys. Then "rational" becomes a lot more meaningful.
DANmode 3y ago
> I've stopped believing in rational markets a long time ago. Agreed. Sentiment is everything.
philoinvestor 3y ago
With the way NVIDIA is moving and how it's seeding AI startups, you could be right about them actively trying to do this. But there is a reality beyond our ability to predict it..

rchaud 3y ago

"Efficient markets" deliver normal returns. The people with the most capital to throw at things are trying to create monopolies that can generate supernormal returns. This is already a highly unstable arrangement, and it's made more dangerous by introducing impurities like artificially suppressed interest rates and SPAC IPOs.

throwup238 3y ago

> I've stopped believing in rational markets a long time ago. It makes a lot more sense if you think of markets as just a bunch of coked out hairless monkeys. Then "rational" becomes a lot more meaningful.

DANmode 3y ago

> I've stopped believing in rational markets a long time ago. Agreed. Sentiment is everything.

philoinvestor 3y ago

With the way NVIDIA is moving and how it's seeding AI startups, you could be right about them actively trying to do this. But there is a reality beyond our ability to predict it..