points by afavour 3 days ago | 0 comments
Their financials are an utter mess. But they’re also hyped enough that a lot of money will get invested in them. Should they crash a lot of money will be lost.
[–] AJRF 3 days ago
Yeah, part of me wonders how much of it is shared delusion and how much is just cut throat racing for the exits.
Even if the tech + business fundamentals don't match reality, there's just so momentum in favor of a "win" here.
What we have today is interesting tech, with many, many applications - but the path to the kinds of things mentioned in this prospectus have no clear path, it seems like scaling laws are plateauing, but those invested speak as if it's a foregone conclusion we get AI we see in science fiction movies.
There is a good documentary called "All Watched Over by Machines of Loving Grace" which documents how computing started, the touted benefits (it would fix society, all illnesses, liberate humanity from work) - and the slow decline in optimism towards what we have today. I feel like AI will play out the same way.
[–] saberience 3 days ago
How are they a mess? They look amazing honestly, and I work in an office surrounded by experts in analyzing statements like this.
[–] happa 3 days ago
Money is not lost, it merely changes hands.
[–] peterdsharpe 3 days ago
This would have been true until ~50-200 years ago, and the advent of modern capital markets. Now, credit is center stage and cash is the sideshow.
[–] flyinglizard 3 days ago
It does get lost. Market cap can appear and vanish out of thin air. It's not a zero sum game, not remotely.
[–] runako 3 days ago