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I agree that Zitron is not honest and a denialist regarding the usefulness of AI, but the "profit" chart is just completely misleading as most of these companie
by borzi 1mo ago
I agree that Zitron is not honest and a denialist regarding the usefulness of AI, but the "profit" chart is just completely misleading as most of these companies have made large investments in OpenAI/Anthropic and list the gains in their share price as "profits" - so yes, while the asset prices are rising, that's typical in any financial bubble. Google is actually cash flow negative for the first time in history (which imo should be what measures profitability: income from products and services - costs to produce them) so Zitron's core thesis that there are no returns in AI is playing out as far as I can tell...
- thelastgallon 1mo agocircular financing, layers of financial engineering: https://news.ycombinator.com/item?id=48424983 https://news.ycombinator.com/item?id=48424983 Also, Google's recent profits are boosted from including SpaceX. $94.18 billion. https://finance.yahoo.com/markets/stocks/articles/google-parent-alphabet-just-revealed-092600523.html https://finance.yahoo.com/markets/stocks/articles/google-par...: On Aug. 6, Alphabet filed its 13F with regulators covering its second-quarter trading activity. Given that SpaceX went public on June 12, Google's parent company is now required to include its SpaceX holdings in its quarterly 13F.