exactly. there aren’t enough resources in the world to build 5 towers of babel.
which means the loan defaults alone will be epic.
@GaryMarcus Instead of building the Tower of Babel we appear to have four or five companies each trying to build their own ones. And I think the results will be pretty obvious
Users endorsed Gary Marcus's warning that AI hyperscalers risk epic loan defaults and historic collapse from duplicate projects, often mocking the race as ruinous natural stupidity or accusing firms of stealing everywhere.
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@JG_Nuke They’ll steal from everywhere
This is precisely what I’ve been warning about this whole time. Unsuspecting savers are being used to pay for the biggest financial fraud is history. The longer this bubble takes to burst, the more money the tech billionaires pocket at the expense of the working class.
Terrifying sentence from Goldman Sachs: “Hyperscalers will need financing from across markets, structures, and currencies as they potentially bump up against saturation considerations in liquid credit markets …”
At the point the question for me is not whether hyperscaling will collapse but how bad the collateral damage will be.
@GaryMarcus everyone racing to build their own unfinished tower first
ironic part is the ruins will look cool from space
@GaryMarcus They managed to shift the attention away from private credit backing software companies, and in the mean time they inflated a much more massive bubble in data centers that will require government and Fes bailouts.
@GaryMarcus #naturalstupidity can wreck nations :)
@GaryMarcus totally agree, the scale is mind-blowing.