this post was submitted on 20 Sep 2024
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They're racking in a ton of investment case on AI. I'm sure there's also a slew of government contracts that keep this beast afloat.
But in terms of real value added to the economy? This seems like its just another Wall Street bubble waiting to pop.
Oh I agree. But the fact is these company's are seeing actual profits right now.
They're seeing a flood of new investment, but they're also absorbing huge losses from within their AI divisions.
The profits they're reaping are in other sectors.
I think the real pop is going to happen when all of these hundreds of billions of dollars have been spent on AI and then a plucky upstart company actually releases general AI and completely and totally demolishes every company that is building up on it.
That is my prediction and my estimation would be 2030-2032 when that happens.
Setting aside the very term AGI is ill defined to the point of meaningless, what prevents the bigger company from simply eating the plucky upstart?
You can't buy what isn't for sale, I guess.
Hostile takeovers suggest you can.
You can only hostile take over a publicly traded company. You can't walk into a private business and kick the owners out unless you have a lot of manpower and the ability to fend off the police and lawyers and everybody else.