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Comment by ipnon | Hacker News Reader

What does it mean when a company's core competencies are degrading but the valuation of their company on the public market is higher than ever?

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"Markets can remain irrational longer than you can remain solvent" :)

Same for Tesla, isn't it? Their valuation seems to be mostly based on future promises and hype.

They still may sell carbon reduction, as they did to FCA.

Literally every stock price is based off expectations of future performance

There are way too many dollars out there is way too much liquidity in the market.

That what succeeds in the market has between everything and zero correlation to it’s actual value. Sure, the market gets it right sometimes. Other times it’s as hilariously wrong as LLMs. Everybody remember Juicero? NFTs? How about Theranos? FTX? WeWork?

Tech is addicted to hype bubbles. Like any addiction it drives poor decisions.

Enron.

That the fundamentals have changed?

Yes, I think it all hinges on whether LLMs ultimately converge towards intelligently cutting through the blogspam dead Internet or diverge towards a Web where all content is fake and going online is mostly an exercise in feeling uncertainty and confusion. Is the course of artificial intelligence flattening out on a sigmoid or have we merely met a hiccough on the way to exploding nil cost super-intelligence?

It generally means your premise might be seriously wrong.

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