@tante

If Nvidia is basically bankrolling the current AI bubble then it's going to pop 🌷🤪

@tante @hyc > Others remain more optimistic, with Goldman Sachs arguing that productivity gains thanks to AI adoption could ultimately boost the economy, according to a note to clients seen by Fortune.

What productivity gains? Can I see them?

Also before you report, read this: https://www.baldurbjarnason.com/2025/followup-on-trusting-your-own-judgement/

@tante
Numbers don't lie, but liars are numerous.

@tante that's not the point of AI, though. AI is a vanity project for billionaires who want other people to pay for the necessary compute power.

@tante The article talks about ”parabolic” and ”exponential”. Wish they would make up their mind. These are not synonymous. Parabolic growth is by definition polynomial, not exponential.

@tante Makes me wonder if Goldman Sachs have a bunch of shorts on AI stocks...

@tante

I am nodding along with this in agreement but let’s steel man this position by asking:

What if any self-serving motivations might cause those of us who do not think AI delivers the full value it promises to make such dire predictions?

Am I just annoyed by change? Offended by the aesthetic inferiority of AI products? Threatened by the way creative and intellectual work is cheapened by the notion that it might all be “easily automated”?

@tante - It is draining a valuable natural resource: WATER.

@tante Other than translating (deepl) and generating pictures with 7 fingers and 3 feet and prohibiting imagery you really want versus what you get (stable diffusion web) it just cost a lot of money to make use of it and I'm really wondering where all that investment has been gone. I also lost total interest in coding with AI, automating desktop AI and general AI for businesses because the bill, waiting time or forcibly using the cloud is causing irritation and paranoia.

@tante

Guess who has put option on Nvidia!

@tante When Nvidia "invests" in an AI company which then takes that money and buys Nvidia chips, people should scream "what is happening here?"

@tante
Nice. I've been saying this for a few months now. Writing has been on the wall.

There are a fair few niche functions llms can do to improve worker efficiency. Exactly like VR goggles and bitcoin.

But to overlook everything LLMs are horrible at is to be either complicit in the scam, or an idiot.

@tante @savvykenya It is not surprising that people in finance don’t believe the hype. The claims thrown around by OpenAI are actually laughable from a tech standpoint. But excuse me while I don’t give a shit about the concerns from a bank that gave Trump money for decades 😆

@tante

The fallout to pension systems from the failure of Nortel & Blackberry...

https://en.m.wikipedia.org/wiki/Nortel

https://en.m.wikipedia.org/wiki/BlackBerry

https://en.m.wikipedia.org/wiki/BlackBerry_Limited

https://www.reuters.com/article/business/nortel-networks-us-pension-insurer-reach-bankruptcy-deal-idUSKBN14B24K/

https://www.pensions-expert.com/defined-benefit/nortel-bought-out-after-9-year-struggle/35908.article

https://www.theguardian.com/technology/2023/oct/15/blackberry-smartphone-status-symbol-then-crashed-and-burned

Over-reliance on a few tech companies in a portfolio is a risk management nightmare

https://globalnews.ca/news/7275588/inside-the-chinese-military-attack-on-nortel/

https://nationalpost.com/news/exclusive-did-huawei-bring-down-nortel-corporate-espionage-theft-and-the-parallel-rise-and-fall-of-two-telecom-giants

https://blogs.blackberry.com/en/2025/07/ai-impersonation-attack-sovereign-security

https://www.helpnetsecurity.com/2024/10/15/ismael-valenzuela-blackberry-political-instability-cyber-operations/

https://www.wired.com/story/blackberry-india/

https://www.theguardian.com/technology/2010/nov/17/india-blackberry-monitored-emails

https://knowledge.wharton.upenn.edu/article/the-ongoing-battle-between-india-and-research-in-motion/

@tante AI will last, "just" the financial/investing bubble will collapse.

@tante Well it’s about time mainstream economists notice basically 3 companies passing the same money around holding up about 25% of the US economy!

@tante

Everybody knows it is a bubble.

But, as long as the bubble produces profits in the stock market, there is no reason to stop.

@tante You didn't expect Deutsche Bank to be late to the party?

Edit: Where were you 2008?

@tante
"Especially alarming is the amount of money the AI industry would need to actually make to justify all its spending."
This.

@tante

While in the past they were typically still doing stupid things when most others had already stopped.