The Venture Capital "Cycle of Insanity"
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- Опубликовано: 9 июн 2024
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"Venture Capital"... (far from its idealistic branding) is a cycle of insanity that perpetually makes the same mistakes, for the same predictable reasons.
From Crypto, to Esports, and Now Artificial Intelligence... Venture Capital seems hellbent on throwing as much money as they can, at charismatic figures and groups, without properly examining what it is their money will be spent on... leading to an established pattern that seems to only grow with each passing iteration.
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Bankman-FRAUD.
@UpperEchelon Might want to do a possible video on scalping using AI. I just thought about it and I believe it can become a real issue in some markets.
@@IPlayVideoGamesAndNothingElse Scalping using AI, or scalping using bots? Scalping is certainly a problem in any case where demand outstrips supply, and it is a tough one to deal with. I just haven’t heard about AI making it any worse than bots already do.
lmao looks like some bitch-ass copyright struck you but then that got handled in minutes
That number allegedly of the entire worlds wealth is obviously leaving out certain families like the Rothschilds. They alone have a worth of over a quadrillion
The AI mentioned after being questioned: "There's no way to return their investment. Investments are risky and they hopefully diversified. Thank you for understanding."
Aaaaaaaand it's gone
It depends on how capitalist/evil they make it. Money is easy to make that way.
@@yourfriendlyinternetmeatshield I mean... i get the sentiment, but not EVERYTHING is profitable just because.
Case in point: Twitter. Sorry, "x"
Fun fact: OpenAI CEO Sam Altman was responsible for WorldCoin, the crypto project in which people submit to a spherical device that SCANS their retina in order to gain access to the coin. This should be enough for people to seriously question this man's motivations.
He's still responsible. Worldcoin is still in use.
Oh hey, that's the thibg going around here in argentina that is abusing the non crypto savvy into giving away retina scans for basically worthless coins. Funny.
Pepperidge farms remembers.
Oh don't worry lots of AI followers are sold on this idea whole hog. Be very vigilant.
Noone cares about your "fun" fact 🙄
Sam: Chat GPT, how can I make a profit?
Chat GPT: Hose the VC. They have an estimated tolerance of up to 7 trillion dollars.
Okay, but imagine if it works. I'd be asking ChatGPT lottery numbers the following day. lmao
@@VixYWwould be no different than asking a magic 8 ball
@@BombaJead ugh 😩.....
Imagine having a business model that is essentially just the South Park "Underpants Gnomes" bit. Incredible.
Yeah, I was thinking that same thing.
I've said this before and unfortunately say it again, we are living in an increasingly south park like reality, and it is very distressing.
@@yourfriendlyinternetmeatshield,
Mike Judge's Idiocracy is more like it. Next thing you know everything will be "Brought to you by Carls Jr." and their "Extra big ass fries!".
@@buckrodgers1162 When people start naming their children Frito, that's the time to go Boondocks Saints on everyone.
@@lilwyvern4,
I think we're already at that point. As I had UPS wrongfully deliver some package to my house the other day that was addressed to someone named 'Babygirl'. Even the UPS driver that took that package back said: "That's not even a very good name."
The human race is already 'boned'.
Well when it comes to Wall street it is more like throwing other peoples money into a big pile, getting your commission, then watching it burn.
Only because they keep investing in China and get screwed by commies
that would be hedge funds and pension funds. that is not the same as VC money. a hedge fund idea is to preserve money by betting for an again the economy so they will less money than a normal fund but will also lose less if there is a economic downturn.
VC capital is rich people throwing money at random shit because 1 winner can offset 100 losers. so yeah those 99 companies where money pits but one is gonna be a multi billion dollar company so is fine. that is the idea, also that "winner" desont need to be profitable just get a high stock price. best example is uber. who made its angel investor a ton of money (by selling their shares) despite never EVER making a profit in a decade.
Ludwig von Mises "Public opinion always wants easy money, that is, low interest rates." Cheap money causes massive malinvestment.
I actually thought you were one of those bots
I was just going to mention the exact same thing, venture capital malinvestment is low interest rate easy money behavior.
His writings should be required reading in high school, particularly "The Theory of Money and Credit"
@@WardenWyrd If they were....there would be a massive outcry over government spending and people like Paul Krugman would be reduced to Alex Jones level of bafoonery.
Public schools have a vested interest to not teach sound money because they rely on government spending. Once you start telling parents and students that they can demand better quality eventually you run into issues where you're forced to reinvest in better teachers and equipment...instead of using appealing to emotion arguments and hostage taking (teacher strikes) so the low hanging fruit can double dip. As well the administrators can go drive around in their 80,000 dollar luxury vehicles, at the same time screaming that 'school choice' is a bad thing.
austrian school of economics baby
I feel like it would improve your argument and inform your audience to start by describing how venture capital investors actually make their money. “Throwing it into a heap and setting it on fire” might be funny, but it doesn’t make any sense and doesn’t have anything to do with their actual strategies.
For those that don’t know, venture capital investors extremely abbreviated strategy is to invest heavily in a company or set of companies (in exchange for a controlling interest), publicize them heavily, and get them to an IPO or sale to recoup their investment before the buyers or public realize that the company isn’t at all viable.
Sounds like a pump & dump
@@Alice_Fumobasically. Using the faze clan example, $40mil invested, get it to IPO, market cap $700mil, sell sell sell.
Good point! As someone who worked with some VCs I also felt like this information was not mentioned, or even not checked whether the VCs did an exit during IPO or lost money afterwards along the crash, which would be a big oversight when researching this topic. Company being viable or not isn't even the point, some are and some aren't, it only matters if a profitable exit was made. Also, it's pretty much the point of VCs to invest in companies that aren't profitable yet and high risk - small percentage of total capital is being invested in this way, making it the high risk / high reward slice of private equity market. Much, much bigger capital is being invested by Scale-up Funds or Funds that specialize in M&A. Overall, this is one of the rare cases of Upper Echelon video where I feel like not enough research was done, like it was sparked by a couple interviews with a guy that creator doesn't like and then just rushed out with a couple of cherry picked scenarios/graphs to prove the point while missing the big picture.
@@grujcyk Also a good point about company viability being incidental. I should have clarified that VCs don’t care much whether the company is viable, and in the cases highlighted in the video, they were not.
@@Alice_Fumo Because that's what it is.
It's how they treat retail investors, too.
It's essentially a multi-stage pump&dump scheme and the bottom feeding peasant serf (aka us) is the butt of the joke. Unless the gameplan fails. Then the venture investor is. In most cases the scammer themselves get off scott free, unless they botch their exit strategy. Then it's Bankman Fried time.
“The definition of insanity is doing the exact same thing over and over again expecting things to change.” I would argue that it’s not the definition of insanity but the definition of human history.
Is it so hard to believe that part of humanity as a whole is insanity?
@@HaughsCausedit well if your some like me who pays attention to history then the answer to your question is no. It’s not hard at all to believe insanity is a part of human nature.
@@HaughsCausedit I just think “insanity” is a complex topic and to boil it down to “doing the exact same thing over and over again expecting things to change.” Is a massive disservice to the topic of insanity.
@@cancer9108
I agree on the last part. Insanity is a complex topic and I've always hated that quote because it doesn't capture insanity at all
Some people with issues might have delusions or OCD, but they're not necessarily trying to do the same things and expecting different results. In the case of severe OCD it might be the opposite case
But I'm just being an armchair psychiatrist here
I mean it's understandable. It feels we are all just a tiny mirror of a bigger consciousness. Looking at the Internet and see a giant brain makes sense that it's as schizo as it is.
the data scraping damage done by genAI to our digital society & culture is so irreversible ( be it images, voice etc) Once the dust settles we need to be vigilant as to where the money trail ends up.
The only silver lining I see from this is that it clearly shows us that "hyper-consumerism" is something we need to control as a society.
Data scrapping damage was already done way before AI. They only took advantage of it.
Honeslty the first time I heard about the definition of insanty was from Vaas in Far Cry 3 so I thought thats where the line originally came from when I was a kid 😂.
Farcry 3 is not the origin?!
I'm pretty sure that line itself is from Vaas and is the one that gets repeated since then but it is not actually the definition lol.
@@Dajudge06 it predates farcry 3
lol, anyone thought it was Vaas? Jeez..
He for sure described the definition the most charismatically.
Venture capital is one big fever dream. Funding vaporware products.
Vapor capital, more like.
Burning Capital more like
Makes one wonder what's the incentive to throw so much money year after year at these scam companies knowing full well that you're more likely to lose money.
@@SkylineFTW97 Likely marketing the promise of a product.
Jon Tron said it best, "but that's because he is, 100% butt-f**k insane."
He still won over Destiny but he not cuck and Destiny is.
If you were to replace the word "AI" with the word "algorithm" in every written article or video about AI, it would make just as much sense, meaning there is no difference between AI and algorithm. For example:
"The AI generated the image" vs "The algorithm generated the image."
The only difference is that if you use the word algorithm in your pitch to investors, you can't ask for a $7 Trillion valuation for your company, but with AI you can.
I'm surprised that there aren't more people saying this
Of course because they are in fact A.M's (Algoritmic Mechanisms) sold under the wrappings of A.I. to the ignorant.
Screw the rules Yugi. I HAVE LOOT BOXES!
It's over Anakin, I have virtual land!
"bonkers level insane kookoo baanas down the rabbit hole alice in wonderland what the f**k is happening" is the definition of the state of the world right now.
also , im asking permision to use this quote twice a day for the rest of my life please.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance but if you want to make your money work for you...prevent inflation
How does this crypto stuff really works and how do I make I make good profit from it? I'm willing to invest in it but I need guidance so I don't lose out
Jane Roy
My financial advisor , she’s a professional and has helped many become millionaires fr
I must say crypto is the future and the way investment is the only concept that separate the rich from the poor
No need to be shocked become she's a genius when it comes to invesmt
Nah, the biggest version of this is our entire banking system.
🎯
Fuck the Federal Reserve.
Based dragon
Which crypto was supposed to help fight against, but greed do be greed...
@@VixYW When?
Looking at it now, there is many indicators it was always going to be an evolution of the current system. Cashless society. The fact that Sam Altman (Sam Bankman Fried - Even their names are similiar) spoke at the WEF says it all.
This is secularist, non-orthodox, crypto-juicish influencers trying to reshape human history by pulling a fast one on the giga rich. Or at least the attempt.
yes, FarCry 3. After that, everywhere. edit: Nvidia is all in on AI. Interesting...
They can sell the lie at least more convincingly.
Chat GPT is highly overrated
Inb4 7 crypto bro accounts show up to explain how they’re going to be billionaires next month.
🎩
🐍 no step on snek!🇺🇸🇭🇰
Hissssssssss
Haven't seen you in a long time.
Oh hey it's you.
The only one who won was NVidia.
TSMC got a nice chunk.
@@jandrewmoretsmc and nvidia are winning big with these ai boom. Especially with Tsmc that got money to build factories outside of Taiwan
they at least produce a real product
The VC industry, and big tech, are massive trend followers
1:45 "retail speculation wave"
...are you sure about that? To me, it seems more like big players in the finance industry hype things up after building a long position, and then use owned media and various shills to generate hype coupled with price manipulation to match the story they're telling. Once the hype is on, they start selling their stake to the people drawn in by the hype.
Thus, a "retail speculation wave" is an opportunity for big players (like market makers) to extract wealth from trend followers.
His persuasive argument on why to invest in AI was literally "Trust me bro"
Seven… Trillion… This is Dr. Evil levels of wacky. But its real life… What is the human race right now?!?
It's in a stupid bubble that's about to burst.
Human race? Not great, mostly NPCs and dead internet O_O
I respectfully disagree with your claim. Dr. Evil only asked for one million dollars.
Always has been...
Let's not forget Theranos: no due diligence,
Albert Einstein said that thete are 2 things that are infinite
The universe
Human stupidity
And even Albert wasn't sure if the universe is infinite ♾️
Well, he was wrong on the later. We can't be infinitely stupid if we don't last for an infinite amount of time, which our stupidity will definitively not allow to happen...
That old proverb is so tiring to read. Einstein wasn't *that* legendary either.
Einstein was a great plagiarist.
@@sugar.swan9that's just science. Look at the history of calculus or math for example.
We never made advancements by one person alone, it has always been each person BUILDING upon the next.
@@bingwen469 there’s a difference between “building upon” others’ works and outright plagiarism, which Einstein did a lot and his peers (and intellectual superiors) became quite aware of it. They are not the same thing.
Finally. Someone else who's noticed that that isn't the definition of insanity.
... and saying over and over again that it is, even though it isn't and never will be, is... well... insane, I guess....
🤔🙏😳
Venture capital is essentially a form of gambling. Investors bet on whether the company will succeed, or at least last long enough to go public so they can pass it over to some other moron right before it collapses. In cases like those mentioned in the video, they also know little to nothing about the hot new thing, so they can be easily duped into thinking that unrealistic promises of growth are achievable or that there’s a path to profitability where none exists.
Some of them for sure know that they are funding a scam and are only planning to sell it to a bigger fool.
And yet without it, how do people privacy make new, ambitious companies? The answer is, it’s exceedingly difficult. And in practice it would result in far fewer startups and would instead consolidate technology onto the incumbents.
it's literally living beings (I refuse to call venture capitalists something else) with dollar eyes going from window to window, bashing their head against the glass on 'burning money' street.
It’s less the definition of insanity than one of insanity’s most obvious symptoms. An actual definition of insanity would identify the motive behind the symptom.
You may be right but you only showed one side of the investment cycle; the losing side.
I don't understand, Sam seems to advocate for a black box AI, nay - AGI(!), when a black box AI is, by its nature, opaque, allowing you to see absolutely nothing of what is being evaluated and calculated, which is bad enough for a limited capabilities AI, and is indeed absolutely insane if you're going to deal with a full-blown AGI, or at least a reasonable approximation of it (get it? The approximation of a function approximation? I'll see myself out). I cannot fathom a reasonable person wanting to create something, first, unaccountable, and second - limiting your ability to tune, correct, understand or even know at all anything about your system as8de from it taking an input and spitting out an output. This is absolutely*NOT* okay, I think you're right, and that is honestly goddamn terrifying. However on the other hand, I think the capabilities aren't there for an AGI, and hardly will be there in less than 10 years, if ever, as AI as it stands right now consumes SO much resources, namely and most importantly water and power, and if you're going to make an AGI, whatever is in stock power wise, is not going to be enough imo
Sorry, this is a diarrhea, and not a coherent thought process.
@Gjhfggdyyg not his fault you don't have the knowledge to understand. It makes perfect sense if you understand neural networks.
They worship the ai apparently. It's called rokos basilisk.
@@Saliferous this guy has not produced a coherent thought, but instead went away with a word diarrhea.
regarding you tho, neural networks are inherently blackboxes because it is impossible to understand how it creates links even after studying the model. Most, if not all, and I'm not even talking about one of the kinds of machine learning umbrella-termed "neural networks", are black boxes.
my comment was regarding his thought flow, not the points he raised. separately, points are mostly factually correct, however together as a three sentenced paragraph, it is nothing but a poorly processed spicy beef burrito.
ngl, if you don't see that, you might lack some reading comprehension skills, because for those who don't lack any, the purpose of the OP's comment and the actual idea of it makes no sense.
the two points i took out of there are: scary to work on and with a black box system; we are not capable of making an AGI. how are they even related to a video?
I'll let you in on a little secret: engineers and computer scientists have been working with black boxes for decades. With both definitions of the black box. Hell, here's another secret for youL philosophy has been treating human brain as a black box for centuries lol.
@@Saliferous this thing isn't about worship, it's about being scared shitless 😸
However, I don't see why this hypothetical basilisk absolutely must be a black box
Your recent videos are killing it. I'm concerned about the near future.
I see the same cycle of Iridium LLC which was valued at 5 Billion, filed ch. 11, only to be bought out for 1 M.
It is very expensive to also run AI no differently from crypto farming. I support it, but I profoundly doubt the democratization of AI is plausible. I have seen discords say by its admins of an AI program that they have nightmares trying to be profitable off of anime stuff.
Sounds like you're either talking about chatbot AI or Stable Diffusion, the latter being open source and able to run on PCs with GPUs that have at least 4gb vram (with tweaks). That's the only "democratized" AI I know of. Every other is hosted by a company and closed source
This is a much needed and well put together video essay. Much appreciated.
Yeah the rich and us don't have the same problems hahaha
Speaking of setting things on fire, have you looked at the Ponzi Papers on Substack?
I have seen many "lab projects" that never see productivity to get a lot of money, but actual working ideas which wont have promise of thousands of percentages of profits,
they have decent profits meaning invest 10 mil get 40-60 maybe back denied .. Minimum usually is 10x. This is big reason you cant see progress in many areas they might
get (if lucky) get acquired by a larger company in the same field, ofc most of the actual ideas are not made to work and things just end up in some companys patent portfolio
never to see light of day. Problem most of time is actually the VC and bonuses they are chasing.
love your vids Bro, always hoping for longer videos on topics like this and exposing scams
The main problem with things like this is there is no way to short the whole crypto idea or the whole AI needs trillions idea. Was there a way to short Faze clan?
You could go short NVidia.
You could short any major one like Bitcoin. Lol. You would have lost 100000% of your investment.
Visit your local investment banker, she will cook up some derivative and take your bet
shorting private equity is a bit tricky. but shorting crypto or AI absolutely feasible. and lots of people have lost a LOT of money doing it.
They should be investing all that money into my bank account.
Me too the golden account 😂
I do love your very thoughtful videos. And the one about Silk Road was absolutely amazing. I've watched it several times.
Esports is the purest example of modern hedonic decadence.
The Faze money spending video seems to be gone, has anyone found a copy of it? I'd really like to see that since I've though damn near all eSports have been a giant scam and money burning endevour for almost 10 years. I've been waiting for it to collapse in a major way from about 2018.
Can you put your sources in the description? I feel like it's pretty important for you to be transparent where you get your information
As a certain game critic once said 'Lets all laugh at an industry that never learns anything tee hee hee.' Which definately applies to any venture that chases trends so madly.
Aw. Sad what happened to him.
Yo, I’ve been following you since Division ✌🏾New York, I AM SO PROUD OF YOU and your EVOLUTION. You are a breath of fresh air in this new You Tube of Lies. Thank You for ALL the research and bringing us the truth.
Gonna give Ground News a Chance.
Did they learn nothing from that one scene in charlie and the chocolate factory where the scientist is trying to ask his ai where he can find a golden ticket?
I don’t remember that scene; is it from the second version of the movie? I only saw the original.
@KnakuanaRka no it's from the gene wilder version. It's in the semi montage?? Of all the various news outlets and people hunting for a ticket.
@@jackw9385 Must have forgotten; I haven't seen it for a long time.
@@KnakuanaRka it's fair enough. It's an old movie. I've just seen it many times haha
I've been thinking the business world gone to shit as exec positions no longer had businessmen but politicians in their seats. Stuff like stupid venture capital partially explains how that dynamic came to be.
Its been so strange to watch you change from games to this. Been a fan for about 5 years maybe more.
Well, the worth of what is being built there appears to me to be about 100 T / year if GDP was to stand still, which it won't.
That's kind of the thing with building something which can automate all human labour and do it more quickly and cheaply. The only thing standing against that is really not having enough funds available to succeed in building it in the first place.
The insane thing here is really that depending on who you ask in OpenAI, the chance of them causing human extinction is between like 20 and 70% with very few outliers
sorry man, it's not gonna get to the point where it can automate any labor lol. You're getting scammed.
@@wilburdemitel8468 To get scammed, I'd need to have any stake in it.
Also, meanwhile >50% of global code output being github copilot generated.
It's already automated half of coding and you don't consider that to be ANY labour?
In any case, a job not being automatable would just mean not enough money has been put into it and can surely be solved with yet more money.
You're extremely conceited to imagine yourself the pinnacle of all possible creation.
It's an ocean storm. Throwing too much money at it with barely or no profit but sacrifices happening. I have a stock portfolio for retirement. I don't put more in, I let it grow under the trust of whoever is buying and selling since they've been in that business longer than me. I put my trust in the experts in that field. It should grow at a rate that it can pay for itself. The people doing the work get paid and it grows based on how well they do.
The issue with that is the people you trust face no consequences for decisions that lose all your money. That is the core issue with the stock market. I invest in areas where I am in control of my money
look up the "AI Winter". It happened before with AI, back in the previous millenium.
Great comment by @JeremyKarst on this video briefly describing the pump and dump / rug pull strategy of many of these venture capitalists, and that's definitely worth reading.
But to make matters even weirder, many of the larger more reputable public companies with AI behind their sails are already sitting at or near all time highs. I'm personally invested in NVDA and PLTR myself and I can't confidently convince myself to buy more right now of all times. Both are up nearly 200% percent this year off of spontaneous and explosive growth. I mean, would anyone be at all surprised if those valuations suddenly came tumbling back down? But no, this is the time to invest in shaky long AI driven "long-shot" IPOs with extreme uncertainty. 💀
None if this is investment advice and obviously no one knows what the future holds in the stock market (I would be no more surprised by these stocks jumping another 2000% than if they experienced a huge correction), but I thought that might add some interesting context. Very strange timing IMO, but perhaps that's by design lol.
Billionaires are idiots with too much money.
I don't know about idiot, cause idiots don't get to the point of making billions.
Psychos on the other hand...
I'm on a business trip in Des Moines and there's s FaZe Clan sandwich shop here lmao. Was almost curious enough to check it out, but not quite enough. Maybe next time.
Where can i find that spreadsheet you show 1 minute in, with all those deals?
possibly created by upper echelon.
most likely on patron
I am pretty sure Sam corrected his statement. I forget where. Lex podcast? Anyhow he said HE was not seeking 7 trillion dollars, but that he thought, in the end, to reach AGI (ex: 20 years from now), it would REQUIRE roughly 7 trillion dollars.
This AGI or Agile word is also thrown around a lot and often without a lick of meaning. Same for innovation.
Can these people only serve buzzwords? Do they even have any conception of what they're talking about, or are they just legendary word salad chefs?
Great work.
How the hell is Open AI burning so much money? Can't they adjust the availability of the service to the user base to cut costs?
Idk, this sounds more like bad management than anything else. Can't really blame investors to not see that one coming, unless I'm missing something here. It wasn't an obvious sinking ship like Crypto and ESports.
Should be called “Face Plant”.
The hive mind also works completely without consciousness.
It isn't about the money. It's about sending a message.
So who is making money?! Where is it going?!
Underpants Gnomes run amok.
Gonna need a follow up to this one to see how it all turns out for Ol Sammy Alts
My boy missed the non profit chance that's why it's good to listen to older people in economics
Can you post the crypto VC list ?
How can I maximize revenue from this opportunity?
10:13
“We have no idea how we may one day generate revenue.” What a statement.
Things are changing constantly and outcome is always different.
The definition of insanity is: Severe mental illness or derangement of the mind.
2:34 My eyes fell on "Secteary of the Treasury." ... Secteary? Nuttde Tsaest Amercai? Are these typos a copyright-trap or instead of a 'specimen'-label? Are these typos legally required? Or is this just a Chinese/AI-generated muck?
This looks like a case for Half As Interesting or Real Life Lore.
It's a 'laundry' cycle...
Thanks for introducing insanity to me 😂
So what do you think is next tulip fewer?
❤
I have absolutely no idea what you're talking about, not everyone lives on the internet or Twitter all day.
I miss the gaming essence of this channel.
are you restarted?
COLLAPSE is on the horizon, for everything.
Collapse has been on the horizon for all of recorded history. Has there ever been a time in human history when people didn't think that they were living in the end times?
It surely is not so black ... rock. Just chill, man. It will be fun ... guard.
I’m going to Japan for 18 months in July so if collapse can at least wait until then I’ll be happy
"Once we develop general intelligence AI, we are going to ask it how to make money."
Yup, there's a bubble.
10:00 I appreciate the honesty
Sam is saying that the deployment of AGI requires hardware development of (maybe) $ 7trilion. Not that OpenAI needs 7 trilion, or that they get any of that money, or that they want or need any of that money. Their company goal is to develop AGI, they need the hardware development to make use of it. Towards this purpose, he's been speaking to the major shareholders of hardware design companies and semiconductor manufacturers - which is, unsurprisingly, a small group of investors.
OpenAI has another problem, they probably already have some sort of AGI in the lab. The hardware for other people to make use of it is way too costly, and hardware build-out will take a decade. Their current services offering and funding won't last for a decade. There's a reason to rush the design and production of AI hardware, that's the discrepancy between the surprising effectiveness of current software and the inadequacy of the hardware. Also, there are lots of people with lots of influence that are just accelerationists. They want either Skynet or the all-knowing AI secretary or the AI military strategist right now, preferably yesterday.
They want AM except a AM they can control at their will to punish their political opponents/wrong thinkers
@@nostromza3433 "They"? Yes, some groups are dead set on monitoring everything everybody does, on the internet and IRL. And of course, altering the perception of everything to suit whatever goals they have. AI is just another tool.
This is a horror movie happening in real time
@@soggybiscuit6098 Yes it is. Some of us have been following it for a few years now, and the novelty has worn out. But things of importance for the human race are definitely happening. Even if progress is stalled and hidden for a few years(or decades), the genie is out of the bottle.
Can't the software be optimized to work better on current hardware in the meantime?
Bro this happens on all economies, housing, credits it all goes through cycles...
I think the trillion is to make fusion neuclear power? that's the number normally given.
Damn, the wholesale dismissal of actually groundbreaking tech in this video is going to give a real boomer vibe when looking back on it in five years.
The alternative to that is the inflation. This helps burn the money printed .
Upload frequency has increased dramatically the past month.
The definition of insanity is to repeatedly call a random number generator, or, as Einstein would say, "playing dice".
Actually i can explain the reason why there's a jump in 2017
It's the Keiser report on Russia Today
This was around trhe same time they said, Esports is bigger than the largest sports leagues combined.
I can understand VCs hat would be drawn to that. Key difference; pro sports have spending fans (tickets, Jerseys, TV viership). Esport teams would have to follow that model to generate money.
VC firms don't invest in a single project. They throw some money into many projects. So when they invested in Chat, it was roughly one of a hundred different investments to make their people money.
Always amazing work! I am all of tech am making life easier but I’m not entirely sure that is helped humanity actually be happier, in fact I believe it’s done the opposite. Now it will have the ability to end us all with relative ease. And no you can’t stop it, maybe slow down at most but prob not even that, the fuse is lit, now RUN!
En este caso discrepo parcialmente, las criptomonedas no han tenido una función real más allá de la especulación, los e-sports se han sobrevalorado masivamente PERO en el caso de la IA, aunque se queme mucho dinero también, va a suponer un cambio muy importante en muchos aspectos laborales... es algo que nos va afectar para bien y para mal, independientemente de que la gente invierta o no.
Venture capital = more money than brains
To say an action can only have one outcome is my definition of insane.
it's almost like the only real crypto is Bitcoin and markets just follow the halving cycle.
You’re wrong about Sam Altman. Q*
Why would someone buy a gaming clan? And what’s the logic on that amount of money? What do they bring in value?
Maybe im dumb, but i don’t see any value being created there.
esports numbers from starcraft korean matches. the issue is that it is something very niche and anyone with sense knows that gaming tourneys are a hobby not a profit making company. Penguin0 admits his gaming clan will never make him money and he knows it is costing him tons money but he is having fun running it till he can no longer justify funding it
Personally, I like the Bittensor approach.
You've been on a roll lately. Glad to see yo back
Not having taken the time to actually read the articles about Sam Altman and just going by the headline about how he wants to reshape the whole scene of _chips and AI_ but not just AI, I assume he's kept up at night by the knowledge that it will almost certainly be the end of AI for the foreseeable future if China pulls the trigger on invading Taiwan, so he's trying to heroically spearhead an effort to make highest-end chip manufacturing global instead of "99% in Taiwan."