peter purgathofer

wonderful. it was only a matter of time, but i thought, it would take longer.

https://finance.yahoo.com/news/ai-effectively-useless-created-fake-194008129.html

AI is effectively ‘useless’—and it’s created a ‘fake it till you make it’ bubble that could end in disaster, veteran market watcher warns

"Fake it till you make it may work in Silicon Valley, but for the rest of us, I think once bitten twice shy may be more appropriate for AI," MacroStrategy...

Yahoo Finance
Jul 9, 2024 at 5:27pmWeb
Show threadJyrgen NJul 10, 2024
@peterpur Well, sure.
Show threadDFYXJul 10, 2024
@peterpur Yeah, that was to be expected. Generative AI has its uses (for example in video translation) but venture capitalists who try to find the right problem for a solution instead of the right solution for a problem have managed to build things that couldn't be much farther from the actual uses.
Show threadcatraxx Jul 10, 2024
@peterpur Here we go again!
Show threadJohn GordonJul 10, 2024

@peterpur @Gargron It took all the output of Hydro Quebec but Perplexity refs claim Nvidia’s June p/e of somewhere in the 50-70 range was not enormously higher than Intel’s around 50. AMD is crazy high.

fwiw Apple p/e is 33 …

Show threadKennethJul 10, 2024
@peterpur It has its uses—I generate "aihrt" for Wright Congregational— & as with crypto it's mostly hype and scam.
Show threadI am Jack's Lost 404Jul 10, 2024

@peterpur

"AI" workflow:

do
fake it
until you make it

This is how you write an infinite loop

Show threadpeter purgathoferJul 11, 2024

@float13 to me, it looks a little like the tech industry, specifically the silicon valley variety, has found a way to get loads of money:

1 develop new technology and create hype around it
2 everybody believes this is the future
3 receive massive amounts of investment money

4 make sure that when the dynamic breaks you have the next technology ready

this is a loop that will only stop if it is stopped from the outside.