Technology

Well yeah. Sam Altman just came out and basically said he needs a few trillion dollars and government backed loans. This shit is going to be BAD.

Yay, yet another once in a lifetime financial crisis.

This is in a category I'd like to call hopebait. People so badly wish things they feel are bad simply stopped themselves, that they'll upvote anything that appears to confirm this.

In this instance, there is nothing of substance in this article to suggest the end of anything is anywhere near in sight.

One guy, who makes bets constantly, made another bet.

Has anyone else noticed the recent resurgence of mechanical turk jobs? It's all AI training work. Before the work was doing tasks directly. Now they have people training tailored AI models.

In other words the tech bros have found get another way to shoehorn themselves in as a middle man. Instead of having workers do the work itself. Now the work is delegated to AI. Which is trained to do the task by humans.

At first it said the LLM era was the end of mechanical turk work. It's going in a circle back to mechanical turks again.

I just phoned a business today that ended up with an "AI receptionist" when they didn't answer the phone.

They wanted to take my name down, asked who I was leaving a message for, and then recorded the message...

My god what a painful process that was. It was absolutely useless. Firstly it got my name wrong, and then the name of the person I was leaving the message for wrong. No "Janet" my name is not Don it's John, and no I'm not leaving a message for Kim Its for Kam. And then it needs to repeat your entire message back to you in order to make sure it didn't fuck it up which amazingly the message was probably 95% okay but it was a giant waste of my time when a FUCKIN VOICEMAIL WOULD HAVE SUFFICED

I've got a problem with articles like this: "The guy who got it right once is betting a second time he's going to get it right". and then the article continues: "Even though he's got it wrong a bunch of times since, he got it right that one time... So this has gotta be his second time!!"

There's an AI bubble?

I was pretty certain it was grifts all the way down lol

If I had to make a guess, I say it probably will. The convenience of AI is probably here to stay, but the craze of replacing everything with AI will go out the door.

AI will become exactly what it should have been in the first place: an assistant. Not your friend, not your doctor, not your therapist, not a replacement for artists/authors/programmers, and not inside every piece of tech post 2025. It has a place. That place is over-embellished right now, not to mention unsustainable.

What does his height have to do with anything? Are we body shaming?

Now I most definitely don't want it to pop 🤣 moreso because the reality is the bubble popping doesn't hurt them it only hurts all the idiots who spent their meager earnings on this shit.

The rich never suffer, other than having to buy the smaller yacht.

If he needs a straight pin to pop it I can send him a couple

My money is on the American bubble popping. China would do just fine. As to Europe's? Probably not developed enough to seriously impact them, but probably able to fill America's void once the bubble action has died down. America is pretty fucked in general, so it isn't so much AI in particular, but rather a ghost economy.

Something based on imaginary stocks, grift, de-industrialization, ghost jobs and falsified labor statistics, likely mixed with a debased dollar, just doesn't bode well.

Some guy spending a billion dollars on pretty much nothing makes me deeply annoyed. Tax billionaires.

The fact that he was even able to make that bet is incredible. How deluded do you have to be to think the AI bubble won't burst? Keeping it going will require in ever-increasing amounts of money to paper over the gaping chasms that keep cropping up, and eventually the amount of money necessary to keep it going will cease to be feasible. Then, after taking gullible investor for all of they've got, the whole thing will fall over in the world's most well deserved and predictable market crash.

The subprime mortgage collapse was inevitable only in hindsight, you had to have a good understanding of the market to see it in advance. To see the level of corruption and false promises that have to be made in order to make the mortgage bubble possible. But everyone can see the AI BS right out in the open, I'm not talking about the "how many Rs are in strawberry" questions either, I can sort of see why that's not really a fair question. I'm talking about the fact that every single business that has ever tried to replace its employees with AI, has always failed, and failed almost immediately. Even Amazon couldn't make it work.

As an aside, you can tell how successful the rebranding of twitter as “x” has been, since even now more than 2 years after the rebranding news articles still have to add “formerly known as twitter” every time they mention it.

Nvidia down ~8% this week, Palantir down ~10%

Maybe the needle really is shifting.

Burry also lost money since 2008 making shorts like Tesla. The Big Shart.

Its not a question of "if" but "when."

Burry similarly made a long-term $1 billion bet from 2005 onwards against the US mortgage market, anticipating its collapse. His fund rose a whopping 489 percent when the market did subsequently fall apart in 2008.

We may have to wait for another three years.

I looked into the article to find out how long a timeframe he is betting. Unfortunately, it does not say.

I do think there is an AI bubble, but "guy who bets against things, bets against the latest thing"

The simple fact that somebody was able even to bet a billion is insanity that should never be possible to begin with.

Nobody should have a billion dollars, let alone have so much that you can just safely bet a billion dollars

Them he's betting.yhst the economy will crash, basically, and we're okay with that shit.

All of this should be illegal as fuck, and this guy belongs in a jail cell