The AI Bubble Is An OpenAI Bubble — To A Mortal End or Is It?

First, we elect a muslim POTUS after a war with muslims. Then we get excited for an intelligence that is called artificial. Hang on, baws!!

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.....The AI bubble isn’t a result of any actual return on investment — whether that be in purely monetary terms, like revenue or profitability, productivity gains, or anything tangible or measurable. Rather, it’s an episode of cult-like psychosis that infected the brains of some of the most powerful and wealthy individuals and institutions, where the powerful mythology of a company inspired — and been used to inspire — the greatest capital misallocation in history.......

When you remove the term “AI” from the equation, this all seems a little ludicrous. $16 billion in equity investment on top of what was, by the end of 2023, over $150 billion in capital expenditures, all of which was pretty much justified by the fact that a single website had been very popular.

And the only reason either of these companies were able to grow was because of hyperscalers bankrolling their entire infrastructure.......

......There is no compelling story for any AI company once OpenAI dies......

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Will It Destroy Ellison's Fortune?