John Lanchester has very long-form retrospective of the #AI #bubble.
> King of Cannibal Island. https://www.lrb.co.uk/the-paper/v47/n23/john-lanchester/king-of-cannibal-island
TLDR: Be prepared to learn a LOT more about NVidia than you expected, but worth knowing all the same. In the end he echo's Bezo's claim AI is a 'industrial bubble' like the 19th century railroads, which will leave behind useful infrastructure and become part of our daily lives.
#Verschwörungstheorie: Die #USA führen systematische #Sabotage gegen #Europa, die #EU & den #Euro durch, weil der Euro die #US-Hegemonie der #Petrodollar schwächt
Deshalb wird ja auch bewusst mit #Nebelkerzen gegen den Euro opportuniert, da die US-#Wirtschaft quasi zerbröckelt und das einzige "#Wirtschaftswachstum" von "#AI" - #Bubble, #GAFAMs und anderen, nicht-nachhaltigen #Scams ausgeht.
Soundtrack: Lynyrd Skynyrd — Free Bird This piece is over 19,000 words, and took me a great deal of writing and research. If you liked it, please subscribe to my premium newsletter. It’s $70 a year, or $7 a month, and in return you get a weekly newsletter that’
This is pretty good as a cautionary tale. Drawing parallels between today’s #AI bubble and the #dotcom bubble…and the great UK railway bubble of the 1800s…is pretty apt.
"They are not confessing, they're bragging"
💵 How much wealth an AI stockmarket crash could destroy // The Economist
｢ A drop in nominal values on the same scale as the dotcom bust would wipe out $16trn, or 8%, of American household wealth. Foreign investors would lose $7trn ｣
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