325 karma · joined February 28, 2024
I suppose you could take the accelerationist stance and try to massively overinflate these companies to crash their funding apparatus by intentionally electing dullards who cause the cost of capital to far outpace its returns, which is what seems to have happened in the last 2 years.
Granted, the availability and pain in the ass of actually getting a new job today is suffocating, so it’s not like everyone gets to pick their dream setup anymore
My own personal opinion is that they’re great at design, UX, hardware, and even some power user desktop software (lifetime Logic Pro addict here). I would say it’s a stretch to call anything they have ever done with ML to be anything near cutting edge compared to Google, for whom all of the “hard” problems of recommendation, search, NLP, and other ML have been the absolute focus of their SaaS, white papers, and web offerings for close to 30 years
The internet is a bad counterexample as it originated from a department of defense project and a number of other government programs that focused on communications and military applications.
It seems that ROI has become more important in the last 5 years, but then again you have these Space or Rare Earth shitcos trading at -200x PE while all of their industrial promise is directly undermined by rising costs from AI.
The likely forecast for this year is either rate hikes combined with further labor market deterioration and consumption somehow going negative, or inflation eating up all of the (still non existent) profits from AI mega caps themselves.
It’s hard to see how this ends well without a lowered cost of capital or more interest in taking on capex risk, which seems frankly unlikely. The worst case scenario seems to be a lot of bad debt with nobody except for perhaps Berkshire or China who would be interested or capable when it comes to salvaging it. Armchair economist here, grain of salts a plenty.
It can be gratifying to get shit done but I love the feeling of coming up with a great reusable component and then making an entire app out of it