The AI bubble is popping

[Anonymous]

First, we have Sam Altman admit AI companies are way overvalued and overhyped, and that a lot of money will be lost on this bet, now we have Meta downsizing their AI division per NYT.

The past few months we’ve seen a random 24 year old AI guru offered $250M to work as an employee at Meta (more than the Microsoft CEO makes), and OpenAI paid $1.5M cash retention bonuses to thousands of employees.

I’m not shorting, but I’m definitely cashing out at this point. Things are getting silly.

[Anonymous]

Good luck with that.

[Anonymous]

Naw. It's just getting started. Dystopian future ahead.

[Anonymous]

"Greed is good" said Michael Douglas. It's in our DNA. You ain't a Yankee unless you are greedy AF. Our language langue is $.

[Anonymous]

It would be unheard of for the tech sector to spend millions of investor dollars without producing what is promised.

[Anonymous]

Bulls make money. Bears make money. Pigs get slaughtered

[Anonymous]

Anonymous wrote:It would be unheard of for the tech sector to spend millions of investor dollars without producing what is promised.

You don’t remember the dot com bust.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It would be unheard of for the tech sector to spend millions of investor dollars without producing what is promised.

You don’t remember the dot com bust.

PP, may I introduce you to sarcasm?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It would be unheard of for the tech sector to spend millions of investor dollars without producing what is promised.

You don’t remember the dot com bust.

PP, may I introduce you to sarcasm?

Cheers for being so much kinder than I might have

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It would be unheard of for the tech sector to spend millions of investor dollars without producing what is promised.

You don’t remember the dot com bust.

PP, may I introduce you to sarcasm?

You’re quoting me. Sorry. Yes it went right over my head.

[Anonymous]

Anonymous wrote:It would be unheard of for the tech sector to spend millions of investor dollars without producing what is promised.

Yep definitely never seen this before

[Anonymous]

I hope it pops very badly. I really do. Our greediness is just out of control. I get we all want to be rich. But the way we are tripping over selves to not be left out is just disgusting at time.

[Anonymous]

What you don't want the Microsoft Excel AI assistant?

https://support.microsoft.com/en-us/office/copilot-function-5849821b-755d-4030-a38b-9e20be0cbf62

It's fantastic! Just don't use it for (scroll down):

1. Numerical calculations
2. Tasks with legal, regulatory or compliance implications
3. Recent or real-time data

Of course nobody uses Excel for numerical calculations.

[Anonymous]

Yeah I want to buy a house in the next year or two, over the past few years I disregarded the advice to not keep money you’ll need in the short term in stocks, but this feels like a good moment to take some profits. I’m still very invested (80% of net worth in stocks/bitcoin) but I just sold a few hundred k to use as down payment. Maybe we keep pumping from here… but eh, I need the money.

[Anonymous]

WHAT? The tech bros who last invested a ton of time and resources into virtual reality were wrong about how big AI would be? And the c-suite dudes who don't DO the work, but wanted staff to spend more time teaching AI to do a task than it took to do the task were wrong?!? I'm shocked!

The list of abandoned "this will change everything" projects coming out of the tech sector is already long and will continue to grow.