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'It's going to be really bad': Fears over AI bubble bursting grow in Silicon Valley (www.bbc.com)
submitted 1 year ago by to c/world
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[–] 1 point 1 year ago (2 children)

Someone cares to explain what that means? What exactly is this "bubble" I keep hearing about, and what happens if it bursts, as people say it eventually will?

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  • [–] 7 points 1 year ago

    A large portion of the US stock market's valuation is based on speculation that AI will be really useful and really cheap. It's not useless. But is it as useful as folks think it will be? Are Oracle and OpenAI and fiends overvalued?

    I do not want AI art. I do not want AI videos. I do not want AI narration. But I'm not everyone.

    AI can help you program. Folks sell it like you can fire all your hackers.

    We see AI as useful. Maybe even revolutionarily useful. The web is useful. Revolutionarily useful. But every .com company was super overvalued back in the day. Lots of folks lost their job and their pension and stuff.

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  • [–] 3 points 1 year ago

    Couple hundred thousand people will lose jobs and couple hundred companies will go bankrupt because of unreliable business model based on venture capital money and stock speculation.

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