You know how a gambler who loses it all starts begging his family for cash or putting their house up for a loan?

[paul_ipv6@infosec.exchange]

@nixCraft

the entire VC system is legalized gambling, with small companies and peoples' livelihoods as the damage instead of a gambler's family.

just like having a casino put into your neighborhood creates far more crime than real jobs, VC in your industry creates far more damage than value.

[nixcraft@mastodon.social]

these are early signs that the AI bubble is about to pop (combined with wars and tariff biz). When it does, it won’t just sink those "Plagiarism Machine" startups, it will create a massive problems for the whole IT/tech industry and it will even hurt other businesses too. It's going to be so bad that the Great Depression of 1929 will look like a walk in the park.

[admin@mastodon.brk.io]

@agowa338 @nixCraft This was also a part of the 2008 financial collapse wherein banks were buying up sub-prime loans. I think we are definitely on the road to another major financial collapse here when this bubble bursts.

[nixcraft@mastodon.social]

Over the past few weeks, several US banks have pulled off from lending to Oracle for expanding its AI data centres, as per a report. So Oracle is now firing 30000 engineers as banks pull out from financing AI data centres and OpenAI deals to meet fools dream. Wise investors are pulling out of data centres now as they found out it's impossible to reach AGI & exponential AI growth through increasing the scale of compute. LLMs have already hit their developmental plateau https://www.livemint.com/companies/news/oracle-layoffs-tech-giant-to-slash-30-000-jobs-as-banks-pull-out-from-financing-ai-data-centres-11769996619410.html

[interpipes@thx.gg]

@nixCraft don't threaten me with a good time.

[mvrenselaar@mastodon.nl]

@nixCraft agree… also too much pension money in there as well… pushed by investment banks… its gonna be bad….

[kitsuneofinari@mastodon.sakura-star.net]

@nixCraft

[marco@mastodon.skup.in]

@nixCraft on one hand it makes me very happy to see the AI bubble burst, but it's incredibly sad to see that workers are the ones to suffer again

[joonq@mastodon.social]

@nixCraft and then small and mid sized businesses are going to go down and whos going to buy them? The tech bros and other billionaires! BOOM succesfully grifted and rugpulled literal coutries! Again

[lexinova@cyberplace.social]

@nixCraft if only oracle could go bankrupt and take tiktok US with them.

[lexinova@cyberplace.social]

@marco @nixCraft will not be a burst, but more a market correction.

meaning 80 - 90 % of AI startup and company will go bankrupt, while other will take a major hit.

AI will not disapear (like the web during the .com bubble) did not disapear.

but only actually usefull feature will remain (not many).

[nixcraft@mastodon.social]

@mvrenselaar yeah, due to pension money i fear governments will step in again and honest tax payers will have pay for these AGI dreams of tech bros.

[nbailey@mstdn.ca]

@lexinova @marco @nixCraft if it requires AI to be financially solvent and profitable it will all but disappear. Or, your chats will cost $10 per message. I guess the market will decide

[lexinova@cyberplace.social]

@nbailey @marco @nixCraft here you make a miskate by englobing AI under "genai" like chatgpt.

but dozen of profitable AI run without behing those useless AI chat.

like document analysis, gramatical or tone correction and other system that do allow the fast analisis of existing information.

the part of AI that is dogsh*t is when you ask the AI to create thing.

edit: but thos ai that sell represent less than 1% of all AI BS so yeah it will not disapear.

[mvrenselaar@mastodon.nl]

@nixCraft dreams? Or hallucinations

[draxil@social.linux.pizza]

@nixCraft cheery thought!

[thomasdorr@mastodon.social]

@nixCraft
Instead of the investors jumping out of windows... Can they be forced to eat the billionaires?

[nixcraft@mastodon.social]

@lexinova i read somewhere kids are quitting TikTok due all sort of stuff happening .. i never used that app so no idea. lol.

[lexinova@cyberplace.social]

@nixCraft don't know either, but that would precipitate the process xD

[coostax@fosstodon.org]

@lexinova @nixCraft
unfortunately I don't think Oracle will go under, they have friends in high places...