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That doesn't mean this is a bad investment for VCs. GPT is being directly integrated in iOS and is a top app on both markets. We've also barely scrapped the sur

by dmix 2y ago

That doesn't mean this is a bad investment for VCs. GPT is being directly integrated in iOS and is a top app on both markets. We've also barely scrapped the surface for potential niche applications that go beyond just a generalist chatbox interface. API use will likely continue to explode as the mountain of startups building off it come online. Voice stuff will probably kill off Alexa/Google Home. I don't think the bulk of this VC money is predicated on AGI being around the corner. But the general trend hopping nature of big VC money is real. Still, VCs manage to continue to make a profit despite this, otherwise the industry would have died off or shrunk the 10 other years HN critiqued this behaviour, so on the whole they must be doing something right.

tdeck 2y ago
VCs mostly make money by selling a narrative about investing in the next big thing and then collecting management fees, not by beating the market. If the public sours on AI we need a new hype to replace it and keep tech money flowing at the same rate. A lot of funding seems to follow fads and be disproportionate to value generated (I remember when there were a bazillion people building social networks because that was hot).
KoolKat23 2y ago
There is a tremendous opportunity in bridging the gap between Can be automated and Isn't automated due to technical/cost/time limitation. GPT's are perfect for this. There are so many things that can be automated out there that currently aren't. Other industries are extremely manual and process driven still. Many here tend to underestimate this. Some programmers here will argue it's error prone or creating technical debt but most people don't care, if it works it works, one can worry about it breaking in 5 years time after its saved you considerably time and money.
TheCondor 2y ago
Don’t get me wrong, there is some very cool and useful stuff there. I think it’s a bit disingenuous to even talk about AGI at this point though and when you look at the power requirements and the need for $7trillion in investment just to build chips, I really don’t know. Underdeliver and AI loses some of the hype again, and like the parent post said, it will be a long winter. Are gpts worth more than Apple, MS, Alphabet and Amazon all together?

by dmix 2y ago

tdeck 2y ago

VCs mostly make money by selling a narrative about investing in the next big thing and then collecting management fees, not by beating the market. If the public sours on AI we need a new hype to replace it and keep tech money flowing at the same rate. A lot of funding seems to follow fads and be disproportionate to value generated (I remember when there were a bazillion people building social networks because that was hot).

KoolKat23 2y ago

There is a tremendous opportunity in bridging the gap between Can be automated and Isn't automated due to technical/cost/time limitation. GPT's are perfect for this. There are so many things that can be automated out there that currently aren't. Other industries are extremely manual and process driven still. Many here tend to underestimate this. Some programmers here will argue it's error prone or creating technical debt but most people don't care, if it works it works, one can worry about it breaking in 5 years time after its saved you considerably time and money.

TheCondor 2y ago

Don’t get me wrong, there is some very cool and useful stuff there. I think it’s a bit disingenuous to even talk about AGI at this point though and when you look at the power requirements and the need for $7trillion in investment just to build chips, I really don’t know. Underdeliver and AI loses some of the hype again, and like the parent post said, it will be a long winter. Are gpts worth more than Apple, MS, Alphabet and Amazon all together?