4 ms·
Warren Buffet taking giant profits and dumping half of their AAPL stock at the top of market prices is really another reason to be bearish on this AI hype which
by rvz 2y ago
Warren Buffet taking giant profits and dumping half of their AAPL stock at the top of market prices is really another reason to be bearish on this AI hype which hasn't materialised to anything profitable for 98% of AI startups and neither has it convinced Wall St that the massive operational costs were worth it. (The 2% is OpenAI, Anthropic and the other >$15B AI startups.)
This just means that we should be getting a short term market correction. The ones that have benefited off of the hype are the Big Tech incumbents that will be just fine and those who dumped their skyrocketing shares on retail, which includes the folks at Nvidia.
At this time, some stocks and most AI startup valuations are extremely inflated and must correct and go down.
- freedomben 2y agoDo you think this is resulting from AI hype? Buffett is usually so macroscopic that I would be inclined to think this is an overall feeling, not one related to AI. But, if you think the tech sector is going to experience a big AI deflation, that could be something I suppose. Interesting to consider.
- fragmede 2y agoI guess the question is if someone's shown him ChatGPT yet.
- seizethecheese 2y agoAbout 50% of adults in the western world have tried it. I’m sure Buffet has.
- dgfitz 2y agoI’d be so curious to know what prompts he used.
- IshKebab 2y agoIs Anthropic even making money? Seems to me the only current winners in the AI game are OpenAI and established giants like Google. Also I don't think you can dismiss AI as pure hype like you can with e.g. web3. Clearly there have been and continue to be amazing and useful advances.
- notyourwork 2y agoAI has been a market buzz word for many years.
- IshKebab 2y agoIt's a buzz word partly because it's a real, useful and impressive thing. I don't understand why people think it can't be a buzz word abused by marketers and a big deal for the world. They aren't mutually exclusive.