The whole fucking thing needs to crash to the ground.
The next year before the Midterms is going to be a wild circus.
Hilarious that at the end of this specific article, for me, an ad popped up advertising AI investing 😂 Jesus we are so fucked
I hope your 401K is diversified because this will bring down a lot with its fall.
i hate peter thiel but i also hate nvidia and tesla so i hope this ends out somehow being bad for everyone
Oh, it will. Bad for everyone human.
My bet is that he’s trying to start a panic in the markets. That way he can clean up on a short.
Wouldn’t that be below somebody like Thiel? I mean, he is a professional and this seems a bit too much “amateurish”…
He believes that there is a bibilical antichrist alive right now, and he can stop it but also shouldn’t. He’s disconnected from reality so severely, he lives in a completely different world. The fact that he’s rich is not a testament of his professional capabilities, but to the fact that in current capitalist environment, the only prerequisite for being rich is to be lucky and have zero morals
This comment is a joke, right? How do you think these people became so wealthy in the first place?
I don’t say it would MORALLY below him, quiet the contrary, but more from a skill level. Acting so obviously would be just amateurish.
Acting so obviously would be just amateurish.
Please stop thinking of these people as massively brained smart people, instead of just being rich and lucky. These guys are just in it to make the number go up, don’t think they have any floor to how low these fuckers would sink
You are assuming he’s doing it himself, instead of on advise if his financial advisors
Wouldn’t that be below somebody like Thiel?
He asks about the anti christ
I thought we decided to not post stonks crap in here. It‘s what completely ruined the technology community over at Reddit before the entire site was ruined.
When we are in the middle of a tech bubble and one of the richest and most connected men on earth decides to cash out, then that is not “stonks crap”, but relevant tech news. Some companies stock price rising by 2% is not news, but this? Yes.
The underlying story is the AI bubble that we all know will end badly. They are shoving lying and hallucinating AI on our devices and into our employment without consent. It’s going to come down, its a matter of when, not if.
It’s a lot better than the practise of posting basically every news story because it tangentially involves a computer.
Unfortunately, these stocks being high are directly related to so much of the tech world being complete shit right now.
You see that is exactly the problem I have with these posts. You don‘t actually know if the trading portfolio of a mega evil asshole actually has any impact on the technology world. Stocks are just gambling and he could make the wrong move here. Like 90% of high traffic posts in r/technology was just random billionaires trading stocks at some point. It was utterly pointless.
I want to see it, lemmys got a bigger problem with individuals trying to control what everyone else sees, you have many options like blocking the poster
Sucks that even though I’m not invested in anything, when this pops I won’t be able to buy food. Thanks a lot, wealth and “security” chasers.
That means the peak is here. The insider of all insiders sold? Dump everything!
Imagine if he waits for people to panic and sell off and then buys back into the market.
In this case, I expect that the market is due to tank for real soon, so that would maybe be a stupid move, but it seems like in general someone could literally trade on the perception that they’re an insider (regardless of whether they have real inside information or not) to manipulate the market in their favor.
Who cares tho. Anyone who sells now still made massive gains. Only gamblers think about “potential gains”.
gamblers duck in and out over the course of hours and days with leverage
I imagine this should count as illegal stock market manipulation, but the government would be too toothless to prosecute it.
I imagine this should count as illegal stock market manipulation, but the government would be too in on the scam to prosecute it.
FTFY
This is the government’s favourite sport. What do you think all the tariff announcements and later withdrawals are doing?
The MAGA government will get in on it. Trump will probably make some kind of ridiculous statement to kick off the plunge, so they can all profit on the slide, and rebuy at the bottom, and recycle the bubble.
They’d probably encourage it
The word is regulatory capture, and the game is upwards wealth transfer.
lol. prosecuting one of the in crowd? They’re not toothless (in this case at least), they’re just protecting one of their own.
The government did it itself just way bigger.
*Scooby-Doo voice
ruh oh
They’ll wave it off as him deciding Elon is the antichrist he’s been moaning about
This goes back to September.
Don’t make actions today based on something someone did months ago. Look at the situation now.
Nvidia is still being given piles of money. Everybody knows it’s gonna blow eventually… but if there’s a dip today it will rise again until a real crash once buyers stop paying.
DRAM going to the moon right now over demand is not a good sign of nvidia losing steam any time soon.
People are way too pessimistic about AI. NVIDIA is going to sell GPUs by the truckload until research finds a way around CUDA.
Sure, the pace of big leaps has slowed, but I liken this phase to the early 1900s. Cars were slow and unreliable, but once the technology took foothold and the 4th Industrial Revolution really took off, look how much progress was made. We went to the moon by the 60s.
I don’t doubt they’ll keep selling more GPUs, but AI certainly looks like a bubble that’s ready to burst with all the fake money going around in circles (assuming those diagrams are correct, which I assume they are).
Not the mention the lies that are keeping AI companies propped up, like AGI that will replace everything “in 3 months”. Pretty sure they missed that deadline already.
With the current “fake” money, lies and over-investment, something bad is surely going to happen unless someone steps in.
AI advances quite a bit each day, but I’m not sold on AGI becoming a thing any time soon, maybe even ever idk.
AI is causing water shortages, rising electric costs and chip shortages. AI is just a fancy search engine, that can be a useful tool. It was awesome for ai to read my blood test results but I don’t need it for most things, a waste of energy. Search engines should have an off button for ai, turn the lights off when we’re not using it.
I totally understand the challenges with infrastructure that need solving, but that doesn’t mean AI is useless or that it’ll never be better than it is now.
Frankly, the “AI slop” crusade isn’t working. It’s time to choose a new fighter.
Google search used to be able to find answers in the old days.
Search engines should have an off button for ai,
Techbros won’t let that happen, because they’re all terrified that consumers will just shut off all the AI being crammed into everything and all their money will evaporate.
I cannot fathom why I wouldn’t be pessimistic about a tool that’s being crammed into places it doesn’t fit. There are a small handful of things generative algorithms are genuinely useful for. But expecting it to magically solve anything else is foolish, and always will be.
This is what I’m talking about. “Always will be”? AGI will come. Don’t bet against it.
Interesting comparison, but how many of the original car companies are still around today? And did those early car companies inflate and manipulate the stock market?- they probably weren’t even publicly traded in the early days.
I think a crash is on its way regardless of how successful AI will be decades into the future
I really just see current AI as search 2.0.
It’s less dumb, but it’s still fucking dumb. Search gives me garbage results constantly, so does AI. AI is usually just a little bit easier to figure out since you just ask it natural language questions unlike traditional search.
When googling anything today you really can’t find useful information unless it’s a very specific set of instructions usually on a social media site. AI doesn’t give you nearly as much garbage unless you start asking it really complex questions.
The sad thing is, we’ve already had this figured out before.
15-20 years ago Google was almost perfect. It completely blew my mind how accurate and fast it was. Many times it felt like it was a mind-reader. I didn’t even type in half my question and it was already auto-completing it and showing the results, the first few of which contained a very exact and detailed answer that someone wrote on a forum somewhere or an article that gave me a complete and correct answer. Remember the old ‘I’m feeling lucky’ button which directly took you to the first search result? Yea, it was pretty usable back then, because the first result was usually correct. Pepperidge farm 'members…
And then the enshittification started by pumping the site full of ads. First the ads were pretty distinguishable from the real results and you could just scroll through them. Then they started to disguise the ads more and more like real results, and just showing more of them. And by now I think google is basically ONLY ads. There are NO real results on it. Virtually the only ‘content’ you are shown are what somebody has payed for google to show. Even if what you are looking for is a very well known, public interest fact, if nobody is paying for it, google is not going to show it. E.g. the other day google could not find me the website of a country-wide utility company for electricity by typing their exact name, because I guess they haven’t paid their monthly ads for google.
Luckily there are other alternatives to google, which still have ‘don’t do evil’ in their corporate philosophy. None of them are close to as good as google used to be, especially if you are not searching in english. But still a hell of a lot better than how google is now.
There is more to it than that… 20 years ago most of the people on the internet were likely similar to you, so most of their desired results were similar to yours.
Now people on the internet since the early 2000 are a minority compared to the “democratized” flood of users who joined in the mobile crapplication phase and started skewing search results towards simpler, less useful results.
SEO and ads didn’t help, but the whole ecosystem broke the model.
I don’t like elitism. The least techy people I know are the most culturally similar to what I was seeing on the Internet 20 years ago.
Because despite being less necessary for daily survival and thus less popular, it was also less structured and less hierarchical.
It’s the other way around honestly, the “techy types knowing better” have built leviathans.
You might not see it, but when people talk about some “better” Internet, an alternative timeline from the 90s to what we got, it’s funny. Because there are people who have that better Internet, Facebook’s and Google’s and others’ infrastructure inside is basically that. These companies and other such have been created and driven by that exact smarter kind of people which you seem to claim was opposed to the bad changes that transpired in the world and on the Internet. And the “democratized” crowd of monkeys was complaining, but couldn’t do anything. Then that same crowd, yes, started using what was given to them. Because the crowd of monkeys is wiser, they look at the whole forest and not some particular trees, as they are not the foresters, and they see when the wind changes. They are not interested in sectarian holywars over specific technologies or elitism on tech, because their interests and elitism are usually in different domains.
Each and every case of something not shit becoming shit is connected to a group of smartasses getting their way at forcing the world go some chosen path. Because nobody is smart enough to choose that path correctly, and when those not smart enough people can no longer get each and every other person’s approval to what they’re doing before doing that, they are turning things into shit.
I also remember how in year 2003 as a kid I loved HTML 4 and such as they were and didn’t understand what are all those movements to CSS, why Flash is bad, and so on. I was a monkey. There were some smarter monkeys who’d say there’s technological development ahead of us, and that it will be better than what we have. And there were some wiser monkeys, who’d predict correctly where all this is going.
OK, some of the wiser monkeys were also studying CS, so now I’m simplifying things to help my claim.
It’s just - when a smaller group decides for all, this is called degeneracy. Degeneracy is not a compliment to the organism described as degenerate.
None of what you said explains what they are talking about lol.
It’s like you have no experience with what they’re talking about
Nice troll bait.
No, I know EXACTLY what I’m talking about. Google’s old results were based on click-through determining which results were best. Now that the quality of the average user is lower, so is the quality of the average click-through result.
That’s as much response as you’re going to get though. You responded in bad faith, so now you’re going to talk to yourself if you choose to respond.
Google search was was better before, like 10 years ago
To shreds you say?
And how’s his wife?
To shreds you say?
when you see the rats running from the end of the ship that’s settling a little lower in the water… that water ain’t outside the hull anymore.
