AI will definitely stay around, but the current AI hype is a market bubbles waiting to pop, similar to how the dot com bubble burst and we still have the internet.

from the investment perspective, they've been losing a lot of money, and they still don't have a way to make it back
from the technical perspective, llms probably already reached their peak, and they are still far from reliable in many use cases
also a disaster for the environment and the culture, the growing sentiment is: fuck all this

I think it will massively correct, like the dotcom bubble for websites. LLMs are a useful utility, but not something that’s going to make economics irrelevant (like people thought about the internet).

Why? LLMs are tools, text models, not AGI magic lamps, and a couple of con artists are trying to convince the world otherwise. That’s an oversimplification, but the jist of it.

And I’m no LLM skeptic. I’ve been playing with ML as a hobby for a decade, with local LLMs before ChatGPT was even available, but the market attitude towards all this is absolutely bonkers. It’s worse than crypto.

If you look at the SpaceX valuation documents, specifically, they're relying on orbital data centers, Dyson spheres, and other scifi bullshit to account for a multi-trillion dollar market cap.

Add in that the terms of the IPO afford Musk and his insider friends to dump shares as early as 70 days after launch day.

It isn't that the companies are bad on their face nearly so much as they're rigged to implode from within.

Alphaville, at the Financial Times, has been covering these IPOs extensively. Musk's is arguably the worst, but OpenAI is running a tight second. And Claude is still largely a cash negative endeavor.

They aren't able to justify their prices.

Found elon.

Historical precedent.

https://www.youtube.com/watch?v=VsE0BwQ3l8U&t=1492s