Couldn't have happened to a worse company! Hope it hurts even worse later on and fractures the Execucultist's will to shill AI further. π
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300 billion on OpenAI? Why? LLMs in general are trash, but ChatGPT isn't even the best LLM
GPT goes beyond chat, copilot code generation is also based on that. They also have generative visual stuff, like Sora.
Then there is brand recognition I guess, tech bros and finance bros seem to love OpenAI.
Brand recognition cannot be overstated.
If there was a better-than-YouTube alternative right now, YouTube would still dominate.
If there was a phone OS superior to Android and iOS, they would both still dominate.
If there was a search engine that worked far better than Google, Google would still dominate.
The average person won't look into LLM reasoning benchmarks. They'll just use the one they know, ChatGPT.
OpenAI isnβt very good in any of those categories and they still have no business model. Subscriptions would have to be ridiculously high for them to turn a profit. Users would just leave. But to be fair that goes for all AI companies at the moment. None of their models can do what they promise and theyβre all bleeding money.
The only good LLM is one that is being used by a highly specialized field to search useful information and not in consumer hands in the form of a plagiarism engine otherwise known as "AI". Techbros took something that once had the potential to be useful and made it a whole shitty affair. Thanks, I hate it.
Chatgpt is the name recognition brands. Like calling all electric cars a tesla
Oh good. AI is collapsing and it's taking Oracle with it.
Me, watching my company pivot to their cloud infrastructure: haha, I'm in danger
I understand why people keep using oracle, but i have never understood why anyone starts.
Because they have a series of ERP systems and services that some idiot CTO at the company looks at and goes: Yes, give me one of those.
Then once you're on that, you get pulled into more and more Oracle ecosystem shit and you think some day you'll have control and be able to get out. But you never do.
Oracle is like the loanshark of the tech industry.
Once you're in, you're in for life. Good fucking luck getting out.
Because their data centers are run by clowns, and going to the circus is an improvement
Canβt wait. Payback for Sun, for Javaβ¦
Personally, I am eyeballs deep in this industry and even Iβm now hoping to see it all burn to the ground. Iβve already concluded that Iβll never make it to retirement in my field, probably because of automation. Fuck βem all.
Same for me... It's depressing. And I no faith the government will do anything besides make it worse. If we're lucky we'll get the Expanse 's version of basic.
I wonder .. will it be another case of "Too Big To Fail" .. or will it be .. "Let The Market Decide"?
I'm guessing the answer depends on how many medals the CEO of Oracle can bestow upon the Orange.
Me .. cynical .. no .. just been here for a while.
OpenAIβs mounting costs β set to hit $1.4 trillion
Sorry, but WTF!? $1.4 Trillion in costs? How are they going to make all of that back with just AI?
I think there's only one way they can make this back: if AI gets so good they can really replace most employees.
I don't think it will happen, but either way it's going to be an economic disaster. Either the most valuable companies in the world, offering services that the next couple of hundred companies in the world depend on, are suddenly bankrupt. Or suddenly everybody is unemployed.
1,400,000,000,000
I used to be amazed at how much a billion was, but this many 0s makes my head explode.
These must be bubble inflated costs to match the bubble inflated revenue.
How is a haunted typewriter supposed to replace all those employees?
Iβve tried explaining AI to people before and only could get so far before they fall back on βbut itβs magic dudeβ but I love the idea of explaining it as a haunted typewriter.
If LLMs fail and they invested: bailout
If LLMs succeed and they invested: rich
If LLMs fail and they passed: everyone else bailed out
If LLMs succeed and they passed: out of business
Therefore, the logical choice for a business is to invest in LLMs. The only mechanism to not do the stupid thing that everyone else is doing is gone.
Prediction: the bubble is real but financiers will find ways to kick the bull down the road until they can force enough adoption & ad insertion to not lose out. The other option is that we pay it, of course. Takes on which is worse?
They'll do both just like they did in 2007/2008. These AI companies and their investors will get bailed out while the rest of us lose our jobs and have to move back in with our parents in the van they already live in.
that's what they got excited about, no doubt. profit would go through the roof if they could take people out of the loop. nevermind the economy.
Ok but if it gets so good it replaces all the employees, how do people have enough money to pay for their services?
OpenAI CEO Sam Altman declared a βcode redβ last week as the upstart faces greater rivalry from Google, threatening its ability to monetize its AI products and meet its ambitious revenue targets.
Interesting that even Sam Altman is worried now!
AFAIK there are also problems that Chinese companies have their own tool chain, and are releasing high level truly open source solutions for AI.
Seems to me a problem for the sky high profits could be that it is hard to make AI lock in, like is popular with much software and cloud services. But with AI you can use whatever tool is best value, and switch to the competition whenever you want.
It's nice that it will probably be impossible for 1 company to monopolize AI, like Microsoft did with operating systems for decades.
Please, government of the USA, do not bail them* out. At least not any more than what you're already giving them.
* OpenAI
Altman just needs to cobble together a gold Trump statue, deliver it to the White House, and any bailout needed is his.
Pop it! Pop it! π
Where the fuck do they get this money from? $300 billion is fucking nuts. And 1.4 trillion in costs is literally bigger than my countries' entire GDP (Australia)
Any combination of:
- Issue new shares and sell them
- Issue corporate bonds and sell them
- Borrow money from banks
Honestly, tulips were a better investment than Tesla or OpenAI. In fact, the continued success of the latter two tells you by itself there is something deeply, seriously wrong with the stock markets and the economy as a whole.
Oracle recently put out a ridiculously optimistic forecast that had them matching AWS within 5 years. At first the market loved it.
Now I think people are beginning to realise that was a load of bollocks.
Do y'all think investors will wake up and realize that techbros are a bunch of fraudster scammers? Oracle deserves bankruptcy for being stupid with money. All my homies hate the AI-Bubble.
Bro even the way journalists talk about AI like it being a bet couldn't be more obvious that it's all a scam. If this AI-Bubble is profitable where are the actual god damn profits.
The sheer amount of AI slop shorts on YouTube must be generating entire dollars in revenue by now. Who isn't entertained and eagerly awaiting the next five million videos of the same scenario over and over again?
Can we do away with trillion dollar companies already,. please? They're not doing anything good for anyone, it always ends with some CEO's and shareholders enriching themselves over the backs of others
No company should ba r a worth of more than a billion dollars
No single person should have a net worth of over 10 million
Fuck yeah. More of this. A lot more.
Lol get fucked fascist
If they kill oracle, will that kill the last Unix after IBM stole the parent OS of Solaris and put it into Novell's oubliette to reduce competition?
Good