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Top economist warns that the AI math doesn’t make sense: 'Profits are currently being funded by investors rather than earned from customers' (fortune.com)
submitted 3 months ago by to c/technology@beehaw.org
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[–] 8 points 3 months ago* (1 child)

It’s exactly a Ponzi scheme, with the one difference being that there is no product with a true Ponzi scheme, but this one has a product. It’s just a worthless mechanical Turk designed to hornswaggle the rubes.

It’s an Altman scheme.

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  • [–] 2 points 3 months ago

    I know. It was a joke.

    But, at least for now, ai doesn’t really do anything, either, at least not anything particularly meaningful. It’s a McGuffin for billionaires to slush money around and profit from others investing in bunk stock. They’re making trillions in a gigantic pump and dump scheme, and right before the bubble bursts, they’re gonna cash out and fuck off leaving everyone else to get screwed

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