Technology

Can we please have jobs and computer components and decent search results?

WeWork was declared a failure when it lost 6 billion in a year. OpenAI is net negative 17 billion a year…

The company I work does pretty basic analysis. Its certainly an “every day” application. It’s been two or three years they’ve been Investing large amounts of money into this, and it can’t do shit. We have been “training” it for faaaaaar longer than it would take to train a human to do these things. Plus, they’ve torn it apart and completely restarted the process at least twice, to my knowledge. Zero efficiencies, very little practical capability. I hear that it’s great at coding and math, I’ve seen it do word processing pretty good, but these assholes oversold it’s capabilities to the managerial class, and they fucking took it. Hook, line, and sinker.

I believe the implosion of the AI bubble will essentially torpedo the only thing still supporting the US economy?

After the initial dot com boom and bust (remenber pets.com?) I remember being told laptops and desktops were dead and we'd all be using tablets. Metaverse, google glass, self driving vehicles real soon, theranos will transform health care, NFTs, crypto. And now AI. Its all just a repeating toilet bowl swirl of empty speculation, exactly like a casino. And not a single one of those things came to much. I wonder if AI will leave much progress behind when it implodes. Maybe this time itll be different?

This is the first major real sign of the bubble popping. An actual verified report from the Financial Times regarding massive drop in revenue expectations, rather than just people hoping it pops.

Yes we crashed the economy, but at least we made the C-suite and the sub level guys an absolutely eye-watering, astronomical amount of money while also increasing worldwide hunger and genocide.

OpenAI promised investors an AI gold rush. Now its projected annual revenue is reportedly $20 billion below earlier expectations. That’s not a rounding error: that’s an entire business empire missing from the spreadsheet. Silicon Valley keeps calling it a revolution, but increasingly it looks like a trillion dollar game of musical chairs, with investors hoping the music never stops.

Something big is coming. The number of startups that investors have poured billions into that do random in-the-middle bullshit to try and scrape pennies from companies' budgets is incredible. These products aren't real. All the investment went into carving money off... the investment. It's self eating.

Teeter harder, I need to upgrade my graphics card.

How long has AI been “teetering on the brink“?

Since I haven’t seen it yet in this conversation, I think I need to bring some better context to what this article is claiming.

No, OpenAI did not assume they were making $70 billion. They’ve always known their existing number. In fact, that number IS what was reported to investors.

The $70 billion number is coming from a specific investor that wanted to adjust the definition of revenue to get a more “apples to apples” comparison to Anthropic’s numbers.

When these companies license their models to hypervisors (AWS, Azure, etc), those hypervisors take a cut. OpenAI does not report that cut as revenue. This investor wanted to add it back in to get a “total demand for AI tokens” number.

They are 2 completely different metrics coming from 2 completely different groups.

Nothing an injection of taxpayers money can't fix!

Could they not have asked their top-tier LLM for advice on how to avoid this massive loss? No? Oh.

cant happen soon enough

I desire the collapse so much.

I own nothing of value, I lose nothing.

Good piece of financial advice. You're assets can't lose value if you have none ;)

I think they may have located a more extreme, even dumber business category than "too big to fail": "too big to bail out".

The fundamentals get worse and worse the closer you look.

Like for example, so much of their opex is filed under capex. Graphic cards & related assets degrade over time but are often listed as one time purchases, compute time is often evaluated as one time expenses but the models need to be retrained to improve over time, etc.

Burst, baby, burst!