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It's a race for AGI, a VC's wet dream. The beauty of a failed investment is that it never goes below zero. So upside is the only thing they care about. Why inv

by screye 2y ago

It's a race for AGI, a VC's wet dream. The beauty of a failed investment is that it never goes below zero. So upside is the only thing they care about. Why invest in a near-zero chance for a random SAAS to take off, when you can invest in a near-zero chance of creating superhuman artificial life?

mempko 2y ago
A failed investment never goes below zero for the investor. For everyone else on the other hand...
gmerc 2y ago
Works well when you see the company stuffing dollar bills into their sports car to race on 1.25% fuel efficiency against a chinese family sedan with a hand tuned ICE.
rtsil 2y ago
> It's a race for AGI, a VC's wet dream. Yes but why? This is what I really don't understand. Say AGI is achieved within a reasonable timeframe. Odds are that no single company will achieve that, there will be no monopoly. If that's the case, where is the trillion dollars value for investors? From every claim we hear about it, AGI will lead to hundreds of millions of jobs disappearing (all white-collar jobs), and tens of millions of companies disappearing (all the companies that provide human-produced services). Who is going to buy your AGI-made products or services when nobody is paid anymore, when other companies, big and small, has ceased to exist? Sure, you can make extraordinary accomplishments and advance humanity far, far ahead, but who is going to pay for that? Even states won't be able to pay if their taxable population (individuals and corporations) disappear. So where will the money come from? How does it work?
- bparsons 2y ago
  Also, profitability won't materialize in an environment with so many competitors offering comparable products. Perfect competition destroys profit. The good becomes a commodity, and the price people will pay simply becomes the marginal cost of production (or in this case, less, while the dumb money is still chasing the hype).

by screye 2y ago

mempko 2y ago

A failed investment never goes below zero for the investor. For everyone else on the other hand...

gmerc 2y ago

Works well when you see the company stuffing dollar bills into their sports car to race on 1.25% fuel efficiency against a chinese family sedan with a hand tuned ICE.

rtsil 2y ago

> It's a race for AGI, a VC's wet dream. Yes but why? This is what I really don't understand. Say AGI is achieved within a reasonable timeframe. Odds are that no single company will achieve that, there will be no monopoly. If that's the case, where is the trillion dollars value for investors? From every claim we hear about it, AGI will lead to hundreds of millions of jobs disappearing (all white-collar jobs), and tens of millions of companies disappearing (all the companies that provide human-produced services). Who is going to buy your AGI-made products or services when nobody is paid anymore, when other companies, big and small, has ceased to exist? Sure, you can make extraordinary accomplishments and advance humanity far, far ahead, but who is going to pay for that? Even states won't be able to pay if their taxable population (individuals and corporations) disappear. So where will the money come from? How does it work?

bparsons 2y ago
Also, profitability won't materialize in an environment with so many competitors offering comparable products. Perfect competition destroys profit. The good becomes a commodity, and the price people will pay simply becomes the marginal cost of production (or in this case, less, while the dumb money is still chasing the hype).