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by yifanl6 hours ago |
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upvoteby jackyinger6 hours ago|
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This is an insane take. Of course there are other areas that are growing or could grow if there was investment.

The problem is an absolute lack of vision on the part of those holding the capital.

Meeting the challenges of climate change could hold huge opportunities. Look at China’s massive expansion in renewables, look at the expansion of renewables in the US despite political headwinds.

Have some imagination, break out of your echo chamber. AI ain’t the only game to be played.

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upvoteby mekdoonggi5 hours ago|
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It's not lack of vision. It's that capital demands gambling. Everyone knows you could plough money into big projects in the US and double your money reliably. But the powers that be do not want that. They want to gamble, and try to become trillionaire #2.
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upvoteby jackyinger3 hours ago|
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To be clear I don’t see gambling to increase one’s wealth as a vision. That’s playing a game.

Vision is seeing a change that could be made. “I could be richer” is about as banal as a vision could get.

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upvoteby marcosdumay3 hours ago|
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It's not insane. The GP is correctly describing a bubble economy.

The money chasing investments is orders of magnitude larger than the money people have on their pockets to spend. As a consequence, the only profitable thing to do is sell capital goods to make business and there is no profit on selling actually useful things.

China is in a different reality in large part because of their capital barriers that stop money from flowing in. Countries with bad reputation are also less affected.

What the GP gets wrong is that none of this makes AI a good business. Instead, it makes Nvidia a good business, but that's not news.

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upvoteby suncemoje3 hours ago|
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Looking at venture funding, it's definitely true. That doesn't mean other problems don't exist or aren't worth solving. But the concentration of (competing) capital and talent is insane.
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upvoteby marcosdumay3 hours ago|
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The lack of places for investment money to go does not make the business profitable.
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upvoteby bilbo0s2 hours ago|
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Not to be a jerk or anything, but that only matters for the guys and gals left holding the bag.

I don't think that will be Musk. He'll probably pull out significant resource from all this financial engineering relatively quickly. Probably via more financial engineering.

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