The most impressive accomplishment of the generative model bubble to date is in the sheer number of people who I used to respect but have disappointed me lately by chasing the bubble.
This is an irrational economic and cultural bubble. Participating in any way shape or form is already a no-win situation. You're too late to be one of the big winners and the bubble dynamic is already baked in and will only get less rational from now on.
@baldur On the contrary. This isn't blockchain. It has many valid uses, and those who refuse to get on board are going to be left behind.
I mean, sure, there is currently an out-of-control hype train and it's causing the square peg of ML to be jammed into round holes, but once that's over, the tech will be around to stay in the hundreds of niches where it really excels.
@LouisIngenthron The bubble exists and is being inflated. Whether or not the tech has uses or not is almost immaterial.
I say almost because the more valid uses it has (of which I'm very sceptical) the bigger the bubble will become.
Genuine technological advancements in a deregulated financial environment = guaranteed catastrophic economic bubble that will derail entire national economies
That the tech is massively overhyped is IMO the optimistic case.
@baldur Any genuine tech advancements tend to derail entire economies. Just look at the advancement of automation in agriculture. But then we adjust and move on; that can't be a reason to reject progress.
Since the tech has actual utility and isn't pure grifter-bait (like cryptocurrency), I'm pretty confident it will stabilize into a mature industry eventually.
@LouisIngenthron This is not that. We live in a deregulated financial environment and the tech industry is joined at the hip to the worst of the worst of risky capital. Tech innovations feed into financial bubbles that are destructive on their own. We could avoid that destruction by regulating tech, finance, or preferably both, but we've chosen not to.
And, like I said, I dispute the extent of the actual utility. I think it's functionality is vastly overstated and the downsides are enormous