Will data centers crash the economy?
This time let's think about a financial crisis before it happens.
Maybe not but private credit crashing definitely will.
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There is a key difference to early railroad and telecom investments. With both it was very clear from the beginning how those technologies were immediately useful for the masses. AI Investment is fueled by a lot of hype and not much actual immediate usefulness to show for. It is perpetually "almost useful". Proponents try to force AI usage in every way they can, to a point where it is more of a threat than an offer: "you WILL use AI and you WILL like it" - with total disregard of actual usefulness or fitness for purpose. In my opinion it is even worse than the cryptocoin hype, which followed a similar pattern (albeit on a much smaller scale) but at least had some real usage incentives (Greed, FOMO, black market sales etc.) instead of trying to force people to use it.
It seems to be a general trend among the biggest players like Microsoft, Meta, Google etc. to simply ignore their users interests and then go and try to force selling them useless shit they don't want. I'm still wondering if they found a loophole in capitalism or if these business models are bound to crash big time in the near future.
‘While the Wright brothers’ 59 second flight was certainly an entertaining novelty, it remains perpetually almost useful.’
AI has already proven to be very useful in many fields, including superior cancer detection. You’re talking out of your ass.
Nice. I'm talking about the LLM craze which is what these companies are selling as AI and what they are building the massive data centers for. Of course there are working AI applications. But Microsoft, Google, Meta aren't selling these. They sell LLMs
So walk me through it. How are they gonna sell it, if it’s not useful? Especially when they’re competing against open source and locally run options.
You’re actually buying into another craze, the anti-AI shit, that is being funded by the companies you’re trying to call out. They’re pushing these talking points to lobby for support for laws to limit who else can enter the AI market, and establish a monopoly.