699 karma · joined March 5, 2025
https://futurism.com/sam-altman-admits-ai-bubble
Things that are useful (I.e. houses) can still create a bubble (2008)
As many a wise man has said before me, gdp doesn’t reflect prosperity on the ground, or put another way:
Two economists are walking in a forest when they come across a pile of shit.
The first economist says to the other “I’ll pay you $100 to eat that pile of shit.” The second economist takes the $100 and eats the pile of shit.
They continue walking until they come across a second pile of shit. The second economist turns to the first and says “I’ll pay you $100 to eat that pile of shit.” The first economist takes the $100 and eats a pile of shit.
Walking a little more, the first economist looks at the second and says, "You know, I gave you $100 to eat shit, then you gave me back the same $100 to eat shit. I can't help but feel like we both just ate shit for nothing."
"That's not true", responded the second economist. "We increased the GDP by $200!"
Welcome to tech, that’s what we do here.
Don’t get me wrong, I’m not saying all blue collar jobs are bad, many are fantastic! But like all things, it’s likely a pyramid. Just like a lot of software engineering jobs are shitty.
If it is offered as a panacea, then the glut of applicants will just drive down wages.
I will be absolutely shocked if there is any real attempt to regulate AI adoption. Capitalists gotta capital.
Whatever it is, basically instead of training a handful of models at a time, we should be training millions.
The internet basically just got gradually better at all the things around it. Better graphics, faster internet, better programming languages, bigger hard drives.
But we still don't know what LLM's are. They're maybe just a feature, not a whole suite of technologies creating an ecosystem, the idea that they'll make the leap from Fancy Lisa AI Companion to colleague is fanciful. I don't think there's a direct line that shows that up and to the right automatically means superintelligence.
Bernie Madoff got caught when 2008 happened and he didn't have enough money to pay back investors, if 2008 never happened he maybe keeps going.
For Elon Musk, and maybe why he bought Twitter, he has to stay popular enough that enough people believe his companies are the best investment available. If someone surpassed him, and Tesla didn't seem like the place where robots or self-driving might happen, then people would probably move away.
For AI, maybe something similar? People would have to start deciding that investing somewhere else is better than investing in AI and let the AI companies start to fail.
Presumably the cause of a bubble is just too many people thinking AI is the best place to invest their money? And the bubble will pop when they decide to invest somewhere else?
I feel dirty reading this. Who read this and thought this was ok?
Almost every other tool I adopt, once I learn how to use it, I always know the use case. Whether it's slack, docker an IDE, zoom, most programming libraries. So yeah, it took me a while to switch from VIM to an IDE, but there was never _really_ a question of "Maybe the IDE won't work here". VIM might have been better for certain things, but the IDE didn't just outright fail, there was always an option.
AI, there's always the overhead of wondering, maybe it just won't work? So when I think it will work it's great, but it's very hard to get addicted to a solution that has that overhead.
So I'm not all that convinced by this argument. I observe in a lot of ways the classical liberal movement has a very narrow perspective on the acceptable range of beliefs; for sure "wokeness" has spread like wildfire, and I have my criticisms, but I don't think the people who care do so because they lament the loss of academic freedom, it's just annoyance at feeling like they lost control of the narrative. PG's recent screed on free speech was reviewed by a whose who of people who have a very narrow set of "acceptable" liberal beliefs.
I do feel like attributing macroeconomic trends to almost anything is so weird in this post-pandemic space.
Note: I’m going to say CP instead of competitive programming for the rest of the article because it’s easier to write.
I think one of the most helpful mental models about unanimity is, are the decisions independent, or unified? In theory if you do a literature review, you’re summarizing different research experiences, but if you’re 100 CEO’s, it’s all the same data they’re looking at, it’s really only one opinion, and prediction is hard, especially about the future.
I don't think there's the kind of systemic risk that you had in a say 2008 is there?, but I do think there is likely to be a "correction" to put it lightly.
Yes, but don't worry, they're getting close to the government so they'll get bailed out.
> What is this capacity being built for? It no longer makes any sense.
Give more power to Silicon Valley billionaires.
Except it seems like it's a worse google, therapist, life coach and programming mate, with the personality of someone who spends all their time trying to solve the Riemann hypothesis.
I couldn’t tell if gpt-5’s answer was better than gpt-4’s in the examples they gave but I did notice that it seemed to be trying to _sound_ smarter, and as I think it highlighted in this article, I don’t usually want to talk to PHDs. Many businesses in the world operate perfectly fine without a PHD, and gpt-5 is kinda the worst of all worlds. Less helpful answers in a tone of someone geeking out while talking down to you.
I think it’s a little funny that every time I ask Claude a question it says “how insightful!” But that’s basically the only problem I have with the tone.