Is that better or worse than IT and software projects in general? It sounds like it might be better.
From the article - “which is twice the failure rate for non-AI technology-related startups.”
I guess I should a) read the article and b) have a slightly better outlook of the field I’m in.
This is very broad. Compare AI to software projects and it’s like a 5% difference. Picking every non AI and put it into the same pool is very misleading.
It’s much worse. Generally speaking projects in large corporations at least try to make sense and to have a decent chance to return something of value. But with AI projects is like they all went insane, they disregard basic things, common sense, fundamental logic etc.
Sounds like I need to train an AI model to predict this and charge people for it.
The circle of AI
I think the whole system of venture capital might be garbage. We have bros spending millions of dollars like gif sharing while the oceans boil, our schools rot, and our infrastructure rusts or is sold off. Or, I guess I’m just indicting capitalism more generally. But having a few bros decide what to fund based on gutfeel and powerpoints seems like a particularly malignant form.
You think it might be??
Bro say that shit with some confidence.
Venture capital does not contribute beneficially to society.
Say it with your whole chest and both feet. Cuz it’s true.
Venture Capital is probably the best way to drain the billionaires. Those billions in capital weren’t wasted, that money just went to pay people who do actual work for a living. What good is all that money doing just sitting in some hedge fund account?
I don’t think it’s the best way out of all possible options. Even if it does “create jobs”, a lot of those jobs aren’t producing much of wider value, and most of the wealth stays in the hands of the ownership class. And a lot of the jobs are exploitive, like how “gig workers” are often treated.
Changes to tax law and enforcing anti-trust stuff would probably be more effective. We probably shouldn’t have bogus high finance shenanigans either. We definitely shouldn’t have billionaires.
Oh sure, I was mostly being flippant. My response to the article is basically that billionaires losing billions is a good thing. I don’t feel optimistic enough to say we’ll get around to taxing them but yes, that would be ideal.
I think you have a point here. Venture capitalists buy in the primary market. They are directly impacting innovation.
Fund managers (both hedge and long only) merely help capital markets to be liquid. Their money doesn’t directly go to anyone actually creating something.
The situation where it’s still profitable to invest this way means that there’s some cross-flow of value from real to this which shouldn’t exist.
I dunno which. Maybe government handouts to corps, for example.
Or ads revenue from any engaging activity, not only good, made huge because of oligopolies.
Or closing holes with currency emission.
It shouldn’t be possible otherwise.
The world is burning and the rich know this so they are desperate to multiply their money and secure their luxury survival bunkers, which is why they are gambling harder.
Oh yeah I think I read about Zucker building a bunker in hawaii. Hopefully he dies before he can enjoy it.
It’s not just fuckerberg, EVERY billionaire is doing it and desperately pumping their billionaire friends for tips and suggestions on things like ‘keeping guards loyal for multiple generations’, and ‘what commodities to hoard for trading after the collapse’.
One of the sites I used to support was a high-end automation service, normally for factory equipment and biotech but pivoted to luxury home automation (no IoT devices, all site hosted with aerospace grade equipment), and they have been running at 100% for the last seven years deploying to ultra wealthy residential estates where the location is not disclosed.
The wealthy are expecting us to rise up within the next decade and a half, and I think they’re probably right.
I remember seeing memes about this. I think it was the “boss throws guy out the window” template.
- “How can we keep our guards loyal? Drug them? Bomb collars?”
- “Maybe you could pay them and treat them with dignity and respect”
Personally I think we should start a campaign of jury nullification and “if you’re an EMT, and they’re a billionaire, let them die”, but I’m just one guy.
The current ferment in the billionaire community is that ‘starting a religion based on the family and offering marriage partners from within the family as a promise of social mobility’ is the safest method of guaranteeing loyalty, so really they’re just making micromonarchies.
Treating them ‘with dignity and respect’ isn’t going to last very long as eventually the family guards will have members that covet the family’s wealth, resources, members, and well since they are guards they have access to all the weapons. Also: almost zero billionaires have respect for anyone who is not also a billionaire.
I agree with your campaign, though I would take it a step further and suggest we should just drag them all into the street and mulch them into fertile soil so the world can begin to heal.
Yeah I think it’s impossible to treat people with dignity and respect indefinitely while also hoarding wealth like a dragon.
100%, the remaining 20% grift their way to success
I’ve been reading a book about Elizabeth Holmes and the Theranos scam, and the parallels with Gen AI seem pretty astounding. Gen AI is known to be so buggy the industry even created a euphemistic term so they wouldn’t have to call it buggy: Hallucinations.
Here’s a fitting AI generated Porky
As I said in a project call where someone was pumping up AI, this is just the latest bubble ready to pop. Everyone is dumping $$ into AI, a couple decent ones will survive but the bulk is either barely functional or just vaporware.
Isn’t that how innovation has always worked?
I feel like all this AI hate is comparable to any other innovation cycle.
Millions of light fabric and dowels wasted on crack pot “air heads” trying to design first ever flying vehicle
I think there’s more AI hate because it’s being pushed onto users that didn’t ask for it and don’t want it from the likes of Microsoft, Google and Amazon. And I think it’s warranted!
But how does that impact you?
Like when is AI being shoved into your day
Google added it to their search by default, I had to change my default search to exclude it. Same with my Android phone, I got prompted to switch from Google Assistant to Bard and declined. Really glad I did since I later read about how awful it is. Yesterday I saw a copilot icon in Teams that I have to use for work. I clicked it out of curiosity and it showed an error and then wouldn’t let me use Teams for 5 minutes. When I finally got in the copilot button was gone lol.
It sure feels like we’re at the peak of the Gartner hype cycle. If so, the bubble will pop, and we’ll end up with AI used where it actually works, not shoved into everything. In the long run, that pop could be a small blip in overall development, like the dot-com bust was to the growth of the internet, but it’s difficult to predict that while still in the middle of the hype cycle.
What I don’t get is the snobby attitude towards it though. I’ve commented else where that it has all the hallmarks of being a manufactured outrage. It has all the same earmarks of any other media driven hate fest.
Think of the logic where you are both angry that it’s useless, hateful of tech bros and still mad that they’re wasting money on it.
To me it’s just fun new thing I can play with and potentially might be something bigger might not be. But when I talk to people online it’s like I’m talking immigration or gender with Republicans. It’s all the and talking points, vitriolic statements and hate
Allow me to offer reasons why: just like the blockchain before, the usage of resources is absurd (which is infuriating) for something that barely works (which is laughable), and the tech is being pushed by the same loathable and arrogant grifters that lead us into a wall at full throttle with crypto.
I’m not just snobbing the naive optimists: I’m actually mad at them for what they’re doing to the environment.
What crypto wall? Isn’t it back up?
I’d rather have all the AI and crypto than any streaming service or social media that everyone who complains about resources seems to use freely.
To me the crypto and AI is innovation which is where I want resources to go. The other crap is recreating things we already have just with extra waste and that goes ignored and makes me feel the outrage is fake or manufactured if the logic steps over a bunch of other things to focus on the new kid on the block.
I do despise billionaires with their private jets, or owners of gigantic pickup trucks that use them to shop for groceries, and I’m not unique in that regard. I can be mad at multiple things at the same time. It’s not mutually exclusive. And it’s definitely not manufactured.
I’m not saying that you’re not. I am saying collectively these points about wasting resources is a bit much considering all the other wastes in relation to the anger those other things generate. It’s not proportional. That isn’t me saying people love it. But I am saying they do use a lot of other things that generate tremendous wastes in similar ways without care.
Im pretty confident it is manufactured. Manufactured in the same way the right despise LGQTB and immigrants. If you were too ask them if their hate was driven by other sources they say the same thing. Nobody is immune to it especially if we agree with thing. We all just go with it.
Doesn’t change that we know fox news plays a big part of some people’s opinions and views. Doesn’t mean those people are not racist or bigots to begin with. But there’s a stoking of the flames. Same here.
It’s massively easier to build a plane than a brain.
Tell that to a bronze age engineer, and they will probably respond that those two are closer to each other than they are to his best efforts. And he would probably be right.
My new job even said they are using AI. It usurb every goddamm company shoving AI features on us.
My new job said this aswell. When I got into the position I found out it was actually a machine learning model and they were trying to use it but didn’t have the time to create a clean dataset for the learning so it has never worked. This hasn’t stopped them from advertising that they are using AI.
Every company is using the same thing and calling it AI.
80% of AI projects so far…
Wow, who could have guessed
Yeah I mean that’s r&d 20% success is pretty strong in a new field.
Yeah. I’d love to see this compared to other R&D success rates.
you can’t spell fail without AI.
feɪl
phayl
Human creativity for the win!
Thank you for using IPA instead of other cheap beers.
I saw a dell bill board the other day saying they put the Ai in ipa and it had a picture of a laptop and a beer
Wait, are they saying that if you remove them (ai) then you’re just left with P? That’s kinda funny
Alcohol is disgusting.
Фэил
Most people don’t want to pay for AI. So they are building stuff that costs a lot for a market that is not willing to pay for it. It is mostly a gimmick for most people.
And like, it’s not even a good gimmick. It’s a serious labour issue because the primary intent behind a lot of AI has always been to just phase out workers.
I’m all for ending work through technological advancement and universal income, but this definitely wasn’t going to get us that, so…
Well, why would I support something that mostly just threatens people’s livelihoods and gives even more power to the 0.1%?
And then on top of that, if they phase workers out without some kind of universal income, how the hell do the corporate overlords expect us to have money to fuel their greed?
Government subsidies!
Why don’t companies get this? If you make something free in the beginning, people will become conditioned that it’s not worth paying for.
True for the consumer side, but I’d be willing to bet that a decent chunk of that money that giant corporations burned funded some serious research on AI that can go on to actually useful science things
It’s mainly because when everyone saw the “oh shiny” tech at first, they rushed it out as soon as possible with intent to replace people so that they can get away with doing less through AI.
Your average tech hype cycle. New tech comes out, lots of marketing, people try to shove everywhere, then things settle down and the tech either fills a certain chunk of the market or some noche or it dies.
NFT, Blockchain, dot Com boom, there’s always another one
Not with all new tech, just something that shakes normies’ imagination.
Even within a company. Saw coworkers that were trying to establish themselves as the AI pioneers and were backstabbing others get promotions based on how they could best use the ChatGPT AI.
Backstabbing your fellow coworkers over a chatbot has got to be one of the most pathetic things I’ve read recently
Capitalism wastes money chasing new shiny tech thing
Yeah, we know. AI’s not special.
And I was always taught that capitalism allocates the resources ideally. /s
*Probably typed on a smartphone, one of the most technology-dense products ever created by humanity, currently used by over half of humanity.
This approach has never worked but I admire your devotion to it.
The market is rational, that’s why casinos have so many customers!
It might be in the volume and price of projects
Wasting?
A bunch of rich guy’s money going to other people, enriching some of the recipients, in hopes of making the rich guy even richer? And the point of AI is to eliminate jobs that cost rich people money?
I’m all for more foolish AI failed investments.
It makes rich guys even richer. At the expense of other rich guys and just fools attracted.
Imo it’s wasted in the sense that the money could have gone towards much better uses.
Which is not unique to AI, it’s just about the level of money involved.
What’s better than paying someone’s salary?
It’s a circle jerk, don’t get fooled into thinking this is some new version of trickle down economics
It’s not trickle down at all. Definitely not what I was trying to say. Just rich people trading money among themselves in hopes of getting richer.