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FOMO. Everyone is trying to landgrab as much territory as possible with the hope of piles and piles of money in the future. What looks like irrational exuberan
by overfeed 1y ago
FOMO. Everyone is trying to landgrab as much territory as possible with the hope of piles and piles of money in the future.
What looks like irrational exuberance to sceptics is a perfectly reasonable attempt to not miss out on the next "iPhone moment" by the believers.
- ryandrake 1y agoBut the land they're grabbing is desert with no water and no access roads. Does anyone besides the few with their wealth invested in AI believe that AI is the next iPhone moment?
- overfeed 1y ago> Does anyone besides the few with their wealth invested in AI believe that AI is the next iPhone moment? It doesn't matter because for such an industry-wide hype, there are no consequences for being wrong. If a CEO ignores AI and it does become the next iPhone moment, they'll be deposed in short order. If "everyone" is wrong and nothing comes off AI, they'll write off some investments, write some "What we learned" LinkedIn posts, and carry on. Our existing framework has no incentives to correct or innoculate agaisnt hypes led by the management/capital classes