Wall Street’s AI Bubble Is Worse Than the 1999 Dot-com Bubble, Warns a Top Economist
Wall Street’s AI Bubble Is Worse Than the 1999 Dot-com Bubble, Warns a Top Economist

Wall Street’s AI Bubble Is Worse Than the 1999 Dot-com Bubble, Warns a Top Economist

The LLM hype is as big as it is only because of capital's disdain for labour. None of these big AI conpanies have come close to turning a profit. They even have subscriptions now that cost $200 a month and they lose money on those too given that the user actually uses their service. But the promise of taking out of the equation the pesky labourer with silly demands like food and a house is too seductive for investors and this is the closest they have come so far to fulfilling their fantasy. So expect this to go on for a while.
"But if you don't give a wage to anyone, who will buy what you sell?"