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A lot of folks complaining about the valuation. It's important to remember that investing in an AI model company isn't the same as investing in most other busi
by jedberg 2y ago
A lot of folks complaining about the valuation. It's important to remember that investing in an AI model company isn't the same as investing in most other businesses.
You're not investing hoping that they turn into a big business with a nice return. You're investing because you assume the value will either be zero or infinity.
If they achieve AGI first, then the valuation you invested in doesn't matter because the value will basically be infinite (or will completely change society in a way that money won't matter anymore).
If someone else achieves AGI first, the value is basically zero.
And if AGI isn't achieved, well, there probably won't be any exit. But if there is, it's a nice bonus if it still has any value.
- Jerrrry 2y agoWhat an exisistentally terse moment for late stage capitalism; betting State-sponsored shitcoins on our future quasi-cybernetic giga-corp overlords to offset increasingly miniscule differences in individual economic starvation.
- gom_jabbar 2y agoI think late stage capitalism is an imprecise term - it does not capture the fundamental decoupling process - for what Nick Land has called "escape-phase capital autonomization" [0]. [0] https://retrochronic.com/#great-decoupling https://retrochronic.com/#great-decoupling
- Jerrrry 2y agoThank you, he has articulated some outcomes and signs I hadn't yet. His thesis that AI is just distilled omega-capitalism is true, very plainly.