What Kind of Bubble is AI? We'll Find Out Very Soon
Then:
Now:
In 2022 and 2023 Cory Doctorow was one among many who asserted "AI" was a bubble. Prior to that, even back in 2020, we kept saying it was a misnomer, a buzzword, basically false marketing and catalyst of fake news (like a lot of what we currently see about grossly-overrated "quantum"). Microsoft had TV advertisements for "AI" even before all that ChatGPT frenzy (manufactured 'reporting', paid-for puff pieces). It wasn't even clear what Microsoft was trying to say or what it meant by that, but Windows was waning (in 2021 Vista 11 came out and almost nobody adopted it). Microsoft was desperate for some hype, just like Apple with Vision Pro (iPhone sales have declined for years), Facebook with "metaverse" (even rebranding as "Meta"), and Tesla the scam factory with faked "full autopilot" videos.
A lot of companies traded in Wall Street - including the supposedly "most valuable" one - are scams based on false accounting and phony potential for a turnaround. They rapidly rack up debt and value themselves based on how many fools have recklessly tied their savings to some "ticker thing".
All of this won't end well. How many people will still remember what Doctorow and many others have said all along? The media seldom quotes them; instead it quotes some "high-profile" (read: rich) Wall Street figures about the "AI bubble", sometimes a former Intel CEO or some current CEO somewhere. As if only the people who profited from the bubble are entitled to an informed assessment of the situation. █