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The "They" here are the folks who are currently investing in 'selling' AI solutions to other companies. OpenAI, Microsoft, Google's Gemini, and a slew of AI-ba
by gortok 11mo ago
The "They" here are the folks who are currently investing in 'selling' AI solutions to other companies. OpenAI, Microsoft, Google's Gemini, and a slew of AI-backed startups are good examples.
They don't need AI to turn a profit.
They need AI to be seen as widely adopted and "a part of life".
They need certain categories of folks (CEOs, CIOs, Boards of Directors) to see AI as valuable enough to invest in.
They need to keep up the veneer of success long enough to make their investments attractive to acquisition by Private Equity or to an IPO.
They need to juice the short-term stock price.
Their goal isn't to produce a long-term business, their goal is to raise short-term returns to the point that the investors get a nice return on their investment, and then it becomes someone else's problem.
- willis936 11mo agoThey filled the bag. They can hold it.
- stoneforger 11mo ago"How money works" YouTube channel had a nice video about this trend in particular going back to making stock buybacks legal in 1982 I think, which made CEO and execs wealth acquisition driven not by a long successful career with healthy margins and dividends, but a short-tenured local maximum pump-and-dump and a hold-the-bag game funded by endless fiat currency which is printed on the backs of other people. Other people's money , Gordon Gecko, they're not just real, they're celebrity sociopaths running us into the ground because of a fragile ego.