Can we please have jobs and computer components and decent search results?
Search results have been shit for the the past 10-15 years. Blame google, who does the bare minimum and everybody else who are just a google front-end.
I mean, a lot of search engines are bing front ends. Ecosia, duckduckgo, and yahoo all come to mind that are just bing.
Yes you can have a job. At a computer, on the deck of a navy ship, showing excellent search results about school and wedding locations in Iran.
I’m really hoping so, but I think they are going to destroy it before selling it to us for cheap.
WeWork was declared a failure when it lost 6 billion in a year. OpenAI is net negative 17 billion a year…
Yes, but consider that AI being successful would maybe let your boss fire you, and they super duper want to fire you and everyone.
I thought they’re 20 billion below the expected revenue doesn’t say loss. Is this from another source?
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.
Maybe he could sleep in the factory for a few weekends? P
Quit ordering the avocado toast.
This account reeks of clanker. Are people just okay with that or am I missing something?
Who could have known this would happen?
Same thing just happened with Anthropics numbers. Billions short of their stated numbers.
I mean, it’s not a rounding error, but going from 4.5 billion to 80 billion is not shabby either
It’s just revenue, not profit. Don’t worry.
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.
Teeter harder, I need to upgrade my graphics card.
I just want some RAM, man. :(
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?
The funniest part is that the dot com crash didn’t kill the internet. It killed a lot of terrible business plans. AI may follow the same script: useful tools survive, investors discover that a chatbot isn’t worth infinite money, and taxpayers get stuck with the data center power bill. The technology can be real while the valuation is pure casino. - PS: You didn’t mention the smartphone. And that’s exactly what people mainly use these days.
I wonder if AI will leave much progress behind when it implodes.
I think it will, it’s the one bit of AI optimism I actually have. I have a theory the big AI firms love for example Yudkowsky’s doomsday cult so much because it’s easier for them to imagine the end of humanity than it is to imagine them not getting an extractive oligopoly over an emerging technology.
The tech itself is actually decent as tech, it’s not what the boosters claim it is but even if development stopped advancing today there’s loads of niches it’d be changing for a long time; computer vision in medical settings for example. Useful things like TTS will be much better going forward than they ever were, and for better and worse things like computer vision in general (ie in public) will never be the same. LLMs are basically magic NLP boxes too, they’re useful for classification as much as generating slop.
AI IS a useful tool for some things, just not everything. So it ain’t going away. Just as the “cloud” is still with us. Or email. Anyone remember when every ISP had their own email?
Every new idea goes through the process of catching on, stupid rapid growth, and then the weeding out of 90+ % of them, and finally the stabilizing the market for those that actually need and use it. Whether is cars, TVs, Cell phones, or AI, every hot new idea goes through this process.
its a useful tool in the way each car should have a nuclear reactor engine. cool idea but the execution is too resource heavy…
draining lakes for cat videos is NOT the future u dunderpate
The juice isn’t worth the squeeze
So, the AI the doctors use to help scan for cancers should be stopped. Gotcha.
Fool of a Took…
you act like the process doesn’t cause cancer…
but go ahead and immerse yourself in fantasy…
What part of using AI to diagnose of cancer causes cancer?
Netbooks and thin computing too.
Nope, all hype and fizzle.
Turns out people want to own their personal hardware/software tools and data, without some perverts reading and observing their family interactions.
I loved netbooks… but I think I was the only one.
I want a convertible, a laptop that folds all the way back and gives a tablet/stylus interface, but has stiff enough hinges to hold the screen like a laptop at any angle with a keyboard, and that closes and covers the screen like a laptop. They played around with some form factors like that 10 years ago but they never really took off. Plus they tended to be Windows only, with poor Linux support on the hardware.
I hope you are right .
But i just read and article suggesting that new university students "cant imagine " writing a 5 page paper without AI chatbots…
Yes this time it will be different, please purchase ETFs with names like “AI, Metaverse and Blockchain” (they actually exist)
/s
The tablet one eventually came true. Desktops and laptops aren’t anywhere near as popular for personal use by non-technical people.
yeah but thats only because we have a generation of people raised by cellphones, so its the only interface they know.
Whatever the reason, it’s basically become true.
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I believe the implosion of the AI bubble will essentially torpedo the only thing still supporting the US economy?
Yes the only thing propping up the USD is the AI bubble. A lot of it is held by non US investors who, in the event of a market crash, would sell dollars to repatriate back home, sending the dollar tanking, which would encourage foreign holders of US Treasuries like Japan to dump them as well. This would force up bond yields and create a US debt crisis.
Burst, baby, burst!
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.
massive drop in revenue expectations
This is still future predictions.
The pop happens when the bonds cannot be repaid.
On September 21st OpenAIs sponsor, BB+ issuer Softbank, placed an $11 billion single bond sale to fund an AI infrastructure bet, and it was oversubscribed.
The bubble is still inflating.
Sounds like it’s almost bailout time again.
I favor incarceration with no bail.
I favour incineration
Even if demand is there, as long as a user paying €200 / mo is costing the business €4,000 / mo then it’s not financially sustainable. (Along with the even worse ways it’s not sustainable)
Edit: see second comment below from partydisc explaining why the even the lower figure wasn’t well calculated.
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.
Are you suggesting that The End is not, in fact, Near? And OpenAI is not about to collapse into bankruptcy, ending the entire AI ecosystem?
Maybe I’ll go out on a limb and say this specific piece of news is not indication of the AI apocalypse. There are still plenty of things to be skeptical of long term, but this itself is not an indication of an inevitable crash.
Let it pop! Let it pop! No bailouts for billionaires. Just let the fucking system collapse. I’ll happily go back to a trade a barter system of some kind.
The $20B difference is based on an accounting fraud. $50B vs $70B is like if GM would count the total of what buyers pay for cars ($70B) instead of their real revenue ($50B) of what their dealers pay them. Monumental fraudster BS came out overnight to resume the bubble frenzy though.
The number they used for annualized revenue for these rapidly growing companies is taking the most recent month’s revenue and multiplying it by 12. It’s not a guarantee about the future, but it is misleading.
The extreme version is taking a good week’s revenue and multiplying it by 52, or even worse, multiplying a day by 365. Those are outright dishonest. But not accounting fraud, because it’s not accounting at all.
Annualized Revenue rate is a made up number, that is a separate accounting fraud, for being a purely selective cherry picked time frame that gets multiplied.
The reason they are changing their made up number from $70B to $50B is because they used to include their partners’ revenue (extra $20b annualized) as their own.
Annualized Revenue rate is a made up number
It is fundamentally a projection about the future using recent results, and transparent in its methodology. It’s shit methodology, but it’s not hiding anything. So I don’t know that I’d classify it as fraud.
Playing games with “revenue” is another problem, but because that’s misleading about the past, and making an active decision on whether to classify money that was never gonna end up in their pockets as revenue share to partners or cost of revenue. Companies sometimes engage in shenanigans where they give discounts but classify the discounts as marketing/sales expenses rather than foregone revenue. That kind of stuff strikes me as more squarely in the category of accounting shenanigans.
transparent in its methodology
To qualify as transparent means disclosing “based on x days in this date range”. That is not disclosed.
