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Powell says that, unlike the dotcom boom, AI spending isn’t a bubble: ‘I won’t go into particular names, but they actually have earnings’ (fortune.com)
submitted 1 year ago by to c/usa@midwest.social
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The entire US economy right now is 7 companies sending a trillion fake dollars back and forth to each other, but it's totally not a bubble according to grampa Powell.

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[–] 13 points 1 year ago (4 children)

Those are all shovel sellers. People stop buying shovels when the gold rush goes bust.

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  • [–] 1 point 1 year ago (2 children)

    more like, they are hoping IRON pyrite(fools gold) would be innovating as good as normal good or better.

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  • [–] 1 point 1 year ago (1 child)

    Yes. It will all fall apart when all the regular businesses (not AI companies) realize that AI is just wasting their money and creating a big mess, not actually increasing their profits. These are supposed to be the big customers for AI and they’re really not benefiting from it at all.

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  • [–] 1 point 1 year ago

    the customers being only other CEOs and middle managment, whom try to reduce headcount/excuse to fire people. on some of the subs they discussed how the offshored tech indian teams are not as good as the ones in the west(EU, South america, and USA)

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