this post was submitted on 06 Oct 2025
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Programming
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I think that's fair comparison.
The difference was that investment followed realizable value for PCs. Or cell phones. Or iPods. Or "the cloud". The horse and carriage were in a sane order.
The internet itself might be an even better comparison, with VC dumping money into anything without an understanding of how to get a return.
Been out the IT game for a little over a year. Aren't AI using companies betting on a realizable return? My take is that the vendors are betting big time, with no return I can see.
VCs aren't idiots. They're obviously wanting to come out on top, I get that. But how does AI make the investment back? Can't see how the survivors make out with a profit. They can only charge so much, and the product isn't near ready. ๐คท๐ป
One afternoon I was standing in a man's attic, wiring his satellite dish, we talked stock market.
"Google's about to IPO. I'd suggest you go all in."
"Yeah, they're the best search engine out there, and their speed is impressive, but I don't see how they ever make any money."
Wonder if he remembers that conversation, thinks on it 2o-years later. That sort of conversation is what investors are afraid of losing out on.