Are these CEOs the "very smart people" you're talking about? To my eyes it's mostly the same crowd that was drooling over crypto and blockchain and the metaverse just a few years ago, and it was clear that was a stupid idea at the time too.
We’re not innocent bystanders here, and it’s important to recognize that. Our hype added to the hype. Our optimism added to the optimism. After layoffs due to Section 172 and interest rates going up, technologists were looking for a reason to be in-demand again, and generative AI as a platform specialization provided that.
We can’t now criticize CEOs for being taken in by the same enthusiasm we pushed for our own purposes.
CEOs are very well compensated for the things they do. If they were led astray by snake oil salesman that does not make Hacker News as a community complicit. They were fooled when they shouldn’t have been and it’s their own fault.
Also, I'm genuinely excited about AI. It's absolutely incredible. Even with all the problems, I'm more invigorated about being a programmer than at almost any point in my career. You have to embrace the chaos.
Many of us were skeptical from the start, and have done nothing to hype up LLMs.
So even if in say 100 person engineering out 10 folks might get 2-3x critical path work. 50 folks Might just add non-critical path work, and the other forty might use it in a way that they end up doing g less critical path work.
But depending on your metrics productivity could look up while the bottom line is unaffected. In which case model quality is a red herring.
It's all boils down to the same problem: A smart programmer who enjoys optimizing something that's not on the hot path: developer velocity.
Lol.