Nasdaq 100 is down over $2.7T over the last month, so far. Still further to go. There are simply not enough earnings materializing to support the capital that has been invested. Google lost $500B in value over the last week because AI overviews, that don’t generate revenue, were cannibalizing search.
OpenAI has cut its funding target by $10B due to lack of enthusiasm by investors. Certainly, if you think AI is going to capture trillions of dollars of value, I encourage you to try to catch the falling knife. Radiologists won’t be replaced, dentists won’t be replaced, AI will get baked into their EHR or line of business app as a commodity. There will be efficiency gains, but not a revolution.
Al Enthusiasm Is Collapsing and Tech Earnings Just Made It Worse - https://www.bloomberg.com/news/articles/2026-10-31/ai-enthus... - October 31st, 2026
Tech Selloff Burns Al Dip-Buyers as Sector Slides for Third Week - https://www.bloomberg.com/news/articles/2026-10-30/ai-dip-bu... - October 30th, 2026
Gartner Survey Finds Only 13% of CIOs Say Their Enterprise Has Realized Significant or Transformational Value from AI - https://news.ycombinator.com/item?id=50207881 - October 2026
Credit swaps and the bond market are more accurately pricing the future imho. Are capital managers smarter than HN? We’re going to find out. “Extraordinary claims require extraordinary evidence.”
https://news.ycombinator.com/item?id=50303881
Ed is behind on model capabilities, but he’s correct it’s an irrational bubble, based on the financials and fundamentals, that will eventually end. Your similar comment from three months ago indicates you’re allowing faith and a belief system to conflict with reality: https://news.ycombinator.com/item?id=49031793
It was the industrial something, oh wait! Industrial Revolution!
And a bad day on the stock market isn’t money disappearing from the economy, it’s money moving, it’s not destroyed, it moves. It can move back on Monday, and has repeatedly.
Like full self driving, “three months maybe, six months definitely.” Which was, what, a decade ago?
You think Google just hasn’t checked the math on their spend for the fastest growing product they ever shipped?
Self driving trucks are on the road delivering things. Every day.
https://blog.google/innovation-and-ai/products/gemini-app/on...
https://blog.google/company-news/inside-google/message-ceo/a...
Couldn’t a company incinerate funds and their stock bottom out because no one will buy?
Is your radiologist using Claude? If so I hope he gets sued for medical malpractice, cause it's about as normal as consulting a crystal ball to find a tumor. AI is an ill-defined term referring to a good chunk of CS/statistics, not a single product like LLMs.
> Programming went the complete paradigm shift at least 18 months ago, and this buffoon still thinks it's vibe coding.
Doesn't help vibe coders still often call themselves that instead of affirming words like "agentic engineer"... As for paradigms being shifted, the dominant one is CEOs shifting into AI psychosis and shifting their IT/QA into unemployment, which is certainly a change...
To repeat myself "AI" is just a very loose subset of CS that changes with every AI winter. Have you seen Google Maps! It uses AI, better hurry for the Anthropic IPO!
The technology that was projected to "kill" radiology is CNNs, they've been around for literal decades, and are still better and cheaper than vision LLMs.
> Have you seen - truly seen...
No, the burden of showing is not on me here. Are dentists using actual LLMs, and how are they using them?
The single usecase I might imagine is transcription and paperwork, though both come with risk of introducing errors to patient files.
But I shouldn't be making your argument for you from a meaningless one-sentence quip like "X% [source?] of Y are using "AI" ".