There ought to be a law against artificially running up your stock’s price so you can bail out and make a killing while others lose their shirts. Oh, wait, there is, but billionaires find ways around it
Amazingly, it's actually worse than you say. News is just coming out that usage of ChatGPT has peaked and is now declining. But while the financial institutions are warning that the bubble will burst, no one seems willing to poke it with a pin by being the first to sell out
OpenAI reminds me of the joke about the rubes who buy watermelons for $12/dozen and sell them for $1 each, and decide they just need a bigger truck to get to profitability.
"It's different this time" is what you hear just before we find out that it is NOT different this time. We live in a world that has demented Donald Trump as US President, that has Leon Mosque insisting on a $1 trillion pay package, SpaceX trying its best to launch space craft to Mars via explosions on the launch pad and calling that success, and Russia insisting its invasion is going according to plan while blaming Ukraine for it. And now... OpenAI is going to market a system which I find makes serious mistakes about 1/2 the time I use it for simple things and is inventing a new math that uses imaginary dollars to pay off real dollars in investment? Altman and Nvidia are ironing each other's pants, basically, and telling everyone that their sales are booming?
We all know who pays the bills. Back in DotBomb, I owned a lot of Global Crossing stock, an outfit that was laying undersea cables for the internet, mostly. Did real well for a while and then one day, they just canceled their common stock and issued NEW common stock.
In the way back time, there was a mantra that you can lose a little bit on each order but you will make it up with volume.
I am a product manager, and once the regional sales director for LatAm tole me he needed prices that were 10% lower so he could beat the competition. I gave it to him.
He didn't realize that his quota ($$$) didn't change, and to make the same quota on a 10% discounted price, hew needed to sell 17% more units.
There ought to be a law against artificially running up your stock’s price so you can bail out and make a killing while others lose their shirts. Oh, wait, there is, but billionaires find ways around it
Amazingly, it's actually worse than you say. News is just coming out that usage of ChatGPT has peaked and is now declining. But while the financial institutions are warning that the bubble will burst, no one seems willing to poke it with a pin by being the first to sell out
https://futurism.com/artificial-intelligence/chatgpt-peaked-data
OpenAI reminds me of the joke about the rubes who buy watermelons for $12/dozen and sell them for $1 each, and decide they just need a bigger truck to get to profitability.
"It's different this time" is what you hear just before we find out that it is NOT different this time. We live in a world that has demented Donald Trump as US President, that has Leon Mosque insisting on a $1 trillion pay package, SpaceX trying its best to launch space craft to Mars via explosions on the launch pad and calling that success, and Russia insisting its invasion is going according to plan while blaming Ukraine for it. And now... OpenAI is going to market a system which I find makes serious mistakes about 1/2 the time I use it for simple things and is inventing a new math that uses imaginary dollars to pay off real dollars in investment? Altman and Nvidia are ironing each other's pants, basically, and telling everyone that their sales are booming?
We all know who pays the bills. Back in DotBomb, I owned a lot of Global Crossing stock, an outfit that was laying undersea cables for the internet, mostly. Did real well for a while and then one day, they just canceled their common stock and issued NEW common stock.
This feels familiar.
In the way back time, there was a mantra that you can lose a little bit on each order but you will make it up with volume.
I am a product manager, and once the regional sales director for LatAm tole me he needed prices that were 10% lower so he could beat the competition. I gave it to him.
He didn't realize that his quota ($$$) didn't change, and to make the same quota on a 10% discounted price, hew needed to sell 17% more units.
Bummer my dude. Where's the money!
I've been popping in on Tiktok today and there's a new ad to train "people over 50" how to use AI.
The course allegedly only costs $20, so I may try it out!