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Everyone who was trading monkey JPEGs has moved on to claiming that they can replace your staff with an LLM.

jsheard 1y ago
Except for a16z who are multi-track-grifting with both at the same time, and trying to find ways to put crypto in AI, or AI in crypto, or something.
- bix6 1y ago
  Can you expand on this? I see this brought up a lot but if they don’t return capital they’ll have to shut down?
  - cactusplant7374 1y ago
    Probably not hard to return the fund when Coinbase is in their portfolio.
    - bix6 1y ago
      Do you know what round / multiple they got?
  - bpt3 1y ago
    They are big enough that they basically make the market in venture. The fact that even they couldn't force much interest in web 3.0 should tell you what a bad idea it really is.
    - bix6 1y ago
      They are huge but only like 4% of the entire VC market so not necessarily enough to substantially move it?
      - bpt3 1y ago
        They are held in very high regard and are very well connected so other VCs will throw money at their portcos.
- NuclearPM 1y ago
  What is a16z?
  - crote 1y ago
    > AH Capital Management, LLC (commonly known as Andreessen Horowitz, or a16z) is an American privately held venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz. $46B under management, so one of the larger players.
tptacek 1y ago
I have no idea what the former has to do with the latter. NFTs were a scam (I think the same about crypto more generally, but know that's a more idiosyncratic belief). LLMs are not. Is your point that LLMs are overhyped? Everything is overhyped. That's not what distinguished NFTs from previous hype cycles; the fact that there was literally nothing there is what distinguished it.
- LastTrain 1y ago
  I believe his point is something like this: entrepreneurs used to look for ideas on how to create something of value that people want, and then create a sustainable business model out of it, in order to turn a profit. There was some pride in pleasing customers. Now they look for ideas to make a profit, whether or not something of actual value is created or if people actually want it.
- etrautmann 1y ago
  I think the point is that many of the individuals involved in hyping NFTs moved on to hyping projects in AI. Even if there's immediate real world utility in AI, it's reasonable to approach the space cautiously if you have concern over the demographics contributing to a significant portion of it.
- solumos 1y ago
  The point literally may be that the get-rich-quick-type founders who were doing NFTs have now pivoted to doing something in AI. I know at least 2-3 people that fit that profile.
sixtyj 1y ago
It was a monkey business, wasn’t it. /s

Except for a16z who are multi-track-grifting with both at the same time, and trying to find ways to put crypto in AI, or AI in crypto, or something.

bix6 1y ago
Can you expand on this? I see this brought up a lot but if they don’t return capital they’ll have to shut down?
- cactusplant7374 1y ago
  Probably not hard to return the fund when Coinbase is in their portfolio.
  - bix6 1y ago
    Do you know what round / multiple they got?
- bpt3 1y ago
  They are big enough that they basically make the market in venture. The fact that even they couldn't force much interest in web 3.0 should tell you what a bad idea it really is.
  - bix6 1y ago
    They are huge but only like 4% of the entire VC market so not necessarily enough to substantially move it?
    - bpt3 1y ago
      They are held in very high regard and are very well connected so other VCs will throw money at their portcos.
NuclearPM 1y ago
What is a16z?
- crote 1y ago
  > AH Capital Management, LLC (commonly known as Andreessen Horowitz, or a16z) is an American privately held venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz. $46B under management, so one of the larger players.

tptacek 1y ago

I have no idea what the former has to do with the latter. NFTs were a scam (I think the same about crypto more generally, but know that's a more idiosyncratic belief). LLMs are not. Is your point that LLMs are overhyped? Everything is overhyped. That's not what distinguished NFTs from previous hype cycles; the fact that there was literally nothing there is what distinguished it.

LastTrain 1y ago
I believe his point is something like this: entrepreneurs used to look for ideas on how to create something of value that people want, and then create a sustainable business model out of it, in order to turn a profit. There was some pride in pleasing customers. Now they look for ideas to make a profit, whether or not something of actual value is created or if people actually want it.
etrautmann 1y ago
I think the point is that many of the individuals involved in hyping NFTs moved on to hyping projects in AI. Even if there's immediate real world utility in AI, it's reasonable to approach the space cautiously if you have concern over the demographics contributing to a significant portion of it.
solumos 1y ago
The point literally may be that the get-rich-quick-type founders who were doing NFTs have now pivoted to doing something in AI. I know at least 2-3 people that fit that profile.

sixtyj 1y ago

It was a monkey business, wasn’t it. /s