Dan SugalskiSep 21, 2024

This is so dead on it’s funny and also scary.

Big tech has no idea what to do when it crests the S curve and everyone running big tech firms are so detached from reality that there’s no way they can actually deal with that, as it means confronting reality, which requires skills they don’t have.

https://www.wheresyoured.at/subprimeai/

The Subprime AI Crisis

None of what I write in this newsletter is about sowing doubt or "hating," but a sober evaluation of where we are today and where we may end up on the current path. I believe that the artificial intelligence boom — which would be better described as a generative AI boom

Ed Zitron's Where's Your Ed At
Show threadKkress
@wordshaper I can’t wait for this hype cycle to to be over. The fallout is going to be ruinous.
Sep 22, 2024 at 1:42pmMetatext
Show threadDan SugalskiSep 22, 2024

@Kkress it’s going to be a nightmare. Not just for tech but the wider economy — when big tech’s P/E reverts back to a more sensible level then valuations will get cut about in half and *then* all the financial firms that depend on having overpriced tech stocks are going to freak out. Plus all the 401k funds that’ll have their values cut which will freak out a lot of retirees.

This is not gonna be fun. It’ll be stupid, but not fun.

Show threadDan SugalskiSep 22, 2024
@Kkress on the upside a bunch of billionaires are gonna take a huge hit which is will be nice.