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The current hype phase is straight out of “Extraordinary Popular Delusions and the Madness of Crowds”

Science is out the window. Groupthink and salesmanship are running the show right now. There would be a real irony to it if we find out the whole AI industry drilled itself into a local minimum.

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You mean, the high interest landscape made corpos and investors alike cry out in a loud panic while coincidentally people figured out they could scale up deep learning and thus we had a new Jesus Christ born for scammers to have a reason to scam stupid investors by the argument we only need 100000x more compute and then we can replace all expensive labour by one tiny box in the cloud?

Nah, surely Nvidia's market cap as the main shovel-seller in the 2022 - 2026(?) gold-rush being bigger than the whole French economy is well-reasoned and has a fundamentally solid basis.

It couldn’t have been a more well designed grift. At least when you mine bitcoin you get something you can sell. I’d be interested to see what profit, if any, any even large corporation has seen from burning compute on LLMs. Notice I’m explicitly leaving out use cases like ads ranking which almost certainly do not use LLMs even if they do run on GPUs.

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