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Large Language Models will change a significant portion of how companies and thus the economy works. This will be transformational. AI Companies are still over
by datadrivenangel 1y ago
Large Language Models will change a significant portion of how companies and thus the economy works. This will be transformational.
AI Companies are still overhyped.
- danielbln 1y agoAgreed on both fronts, but it bears repeating two that both things can be true at the same time. More often than not people think when the AI bubble bursts, LLMs, diffusion models etc. will just vanish, and they will absolutely not vanish. This tech is here to stay, for good.
- bachmeier 1y ago> people think when the AI bubble bursts, LLMs, diffusion models etc. will just vanish, and they will absolutely not vanish I don't care if they vanish. I just want the hype to die. The last few months this site would more truthfully have been titled LLM News. I use LLMs but for the most part I find discussions about them boring.
- dylan604 1y agoWhen the dot com bubble burst, the internet did not go away. Just the over inflated companies did. The underlying tech was not to blame, but the mismanaged VC funded nonsense that goes on inside hype machines. We lathered and rinsed, now we're repeating.
- bgwalter 1y ago[deleted extreme wrongthink]
- JustExAWS 1y agoThis isn’t true. Housing prices recovered by 2016
- bgwalter 1y agoThe prices recovered. The housing and especially the rental market have been insane ever since. You can view it as a success for investors, but not for anyone else.
- deleted 1y ago[deleted]
- scotty79 1y agoMore like 2021 if you adjust for inflation. https://www.longtermtrends.net/home-price-vs-inflation/ https://www.longtermtrends.net/home-price-vs-inflation/
- ses1984 1y agoWhat do you mean when you say housing hasn’t recovered from the 2008 bubble?
- 1718627440 1y ago"The internet" was invented in the 70ths.
- criddell 1y agoSounds like another case of Amara's law that says: > We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.
- jerf 1y agoThe analogy to the Dot Com bubble seems strong. Pretty much everything promised in the Dot Com bubble has come to pass. It just didn't come to pass on the time frame the stock valuations implied. And given that the time value of money is an exponential process and not just a linear one, missing by 10-15 years is missing by a lot. I don't know that AI is going to miss in the same way by 15 years but I also don't see how it can possibly justify the promises implied by the current valuations and investments. A thing nobody wants to talk about is how quickly all the hardware that was so frantically purchased is depreciating, for instance. And even missing by 5 years with the exponential time value of money is still missing by a lot, although perhaps I won't italicize this particular "lot".
- CheeseFromLidl 1y agoIt just didn't come to pass on the time frame the stock valuations implied. There’s always “urgency” involved when pumping money around the system. And some win big with overselling this need to act fast. I don’t see how patience can be introduced.