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Post Avgi8Qoz0xECcwqAu8 by [email protected] |
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Post #Avgi8IdLSLAJEXKlea by [email protected] |
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If there's one area where tech has shown a consistent aptitude for innovati… |
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Post #Avgi8ImYu4XPh7e81I by [email protected] |
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@pluralistic The age of the scam, if it's not loss-making companies buoyed … |
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Post #Avgi8IsEYz4hyiIerQ by [email protected] |
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@nini @pluralistic I'm sorry, but this is a false equivalency |
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Post #Avgi8JatsunuDFCKTw by [email protected] |
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Since the dotcom era, tech companies have boasted about giving stuff away but &… |
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Post #Avgi8K0QM1DjUP8iGW by [email protected] |
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That was Son: he would take a startup like Wework, declare its brand to be wort… |
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Post #Avgi8KxymarKT70H5s by [email protected] |
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Of course, every finance bro is familiar with Stein's Law: "anything t… |
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Post #Avgi8LNrENYjlN6wQi by [email protected] |
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To make that work, they have to invent *new* accounting tricks, like when Uber … |
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Post #Avgi8LoncD6t6viSQK by [email protected] |
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Even companies that are actually profitable (in the sense of bringing in more r… |
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Post #Avgi8MF22g5sQHzPJQ by [email protected] |
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I mean, sure, they could raise a billion new humans to maturity and train them … |
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Post #Avgi8MeYVmVhhRvn60 by [email protected] |
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But that was small potatoes. What Google - and the rest of the tech sector - ne… |
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Post #Avgi8N312q4mvJNKDo by [email protected] |
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But spinning an endless growth story isn't merely ideological. It's a f… |
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Post #Avgi8NRTZtds9AorLc by [email protected] |
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That means that when Tesla and Ford compete to buy something - like another com… |
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Post #Avgi8NrM1gLHRQvWgS by [email protected] |
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So when Tesla bids against Ford, Ford has to use dollars, and Tesla can use sha… |
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Post #Avgi8OGWW6TWhUhcum by [email protected] |
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In other words, if you can tell a convincing growth story, it's *much* easi… |
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Post #Avgi8Og2zCtLyee0hM by [email protected] |
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That's why the biggest tech companies in the world have spent the past deca… |
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Post #Avgi8P5vQzalGukg2C by [email protected] |
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So long as Mister Market thinks tech is a "growth" sector and not a &… |
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Post #Avgi8PTg0gagSZre3U by [email protected] |
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That's why AI is being crammed into absofuckingloutely everything. it's… |
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Post #Avgi8PxSDyPTwvnQTA by [email protected] |
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The reality, of course, is that people *hate* AI. Telling people that your prod… |
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Post #Avgi8QMyh4pJE5joFk by [email protected] |
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This presents a dilemma for tech companies, who research the hell out of how pe… |
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Post #Avgi8Qoz0xECcwqAu8 by [email protected] |
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The reality is that AI is a very bad business. It has dogshit unit economics. U… |
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Post #Avgi8RFDRQDBwJ77nE by [email protected] |
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You can be forgiven for not knowing this, though. As Ed Zitron points out in a … |
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Post #Avgi8RgrmcKVK43CtM by [email protected] |
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* MetaSpending: $72b in 2025Receiving: At *most* $600m in gross revenue from se… |
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Post #Avgi8S9E5B0yk1Jr60 by [email protected] |
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As Zitron points out: this industry is projecting $327b in spending this year, … |
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Post #Avgi8SY2aurdyyvfm4 by [email protected] |
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But...if you chuck them in, you also get total exenditure of $370.8b. These are… |
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Post #Avgi8SxD5KztF2hm0O by [email protected] |
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They are certain to keep the bubble pumping for months or perhaps years, convin… |
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Post #Avgi8TM1b4qYU0JagS by [email protected] |
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Catch me in #LONDON with RILEY QUINN from #TRASHFUTURE TONIGHT (July 1):https:/… |
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Post #Avgi8Tk89S83glaqG0 by [email protected] |
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Image:Cryteria (modified)https://commons.wikimedia.org/wiki/File:HAL9000.svgCC … |
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Post #AvgniI5jRsgHkQapXs by [email protected] |
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@pluralistic Curiously, Sam Altman's quotes in Ed's post are mostly abo… |
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Post #AvgniIEauvloBujuMK by [email protected] |
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@pluralistic Credit where credit is due: they're always a step ahead of us.… |
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Post #AvgniIKGZqJ6TVORCS by [email protected] |
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@sensiblequiet @pluralistic And as the bard once said: Nothing will come of not… |
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Post #Avi60YuldF7bTAHojQ by [email protected] |
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@pluralistic I'm not surprised when the extent of big tech "innovation… |
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Post #Avi60Z2v8vdxsS6KRM by [email protected] |
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@spacebarbarian @pluralisticIt seems counterintuitive, but I long for the days … |
