You know how a gambler who loses it all starts begging his family for cash or putting their house up for a loan?
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@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
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@nixCraft agree… also too much pension money in there as well… pushed by investment banks… its gonna be bad….
@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.
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@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.
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@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.
@nixCraft dreams? Or hallucinations
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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.
@nixCraft cheery thought!
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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.
@nixCraft
Instead of the investors jumping out of windows... Can they be forced to eat the billionaires? -
@nixCraft if only oracle could go bankrupt and take tiktok US with them.
@lexinova i read somewhere kids are quitting TikTok due all sort of stuff happening .. i never used that app so no idea. lol.
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@lexinova i read somewhere kids are quitting TikTok due all sort of stuff happening .. i never used that app so no idea. lol.
@nixCraft don't know either, but that would precipitate the process xD
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@nixCraft if only oracle could go bankrupt and take tiktok US with them.
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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
@nixCraft @infosec812 Ed was right
Premium: The Hater's Guide to Oracle
You can’t avoid Oracle. No, really, you can’t. Oracle is everywhere. It sells ERP software – enterprise resource planning, which is a rat king of different services for giant companies for financial services, procurement (IE: sourcing and organizing the goods your company needs to run), compliance, project management, and
Ed Zitron's Where's Your Ed At (www.wheresyoured.at)
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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
@nixCraft is the bubble bursting already?
Jensen Huang says Nvidia is pulling back from OpenAI and Anthropic, but his explanation raises more questions than it answers | TechCrunch
Nvidia CEO Jensen Huang said Wednesday that his company's investments in OpenAI and Anthropic will likely be its last — but his explanation may not tell the whole story.
TechCrunch (techcrunch.com)
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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.
@nixCraft It's already causing problems for the tech industry (see for example Valve further delaying their new hardware products and having stock problems with the Steam Deck). But when it pops, things are going to get a lot worse.
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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
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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
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@nixCraft don't know either, but that would precipitate the process xD
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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
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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
Feel bad for the folks that were working there, but also, fuck Oracle.
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@keyboardg @nixCraft @nivrig wow 30k that is going to
Be noticed. I haven't seen numbers like that since 2008, Cisco had some layoff in that range.
️, and the fascists need the Ellisons for their propaganda