5 years ago we were mid-pandemic. That’s a big knowledge gap.

The data is there, but it’s not in what those companies say. It’s in the books of the companies they have relationships with.

I do agree with your second statement though.

I’m not sure how much distillation and building on top of each others results is going on. I could see all the models freeze in development when the money leaves the segment.

A model frozen in the past has limited usefulness.

If you want it’s “knowledge” to be up to date, the training never ends.

Why wouldn’t you include training? Training is vital to their product.

They’re playing all kinds of games with the numbers right now. They’re trying to IPO so hiding costs under other headings outside the core business. Don’t trust what they openly state. It’s far worse.

I think you’re probably a couple of orders of magnitude too low.

I really hope not, because that’s how they steal money from working people with 401k plans.

They started it.

Just invest in the things that we actually need. Renewables for example.

Useful doesn’t mean profitable, sustainable or cost effective.

You’re not paying the real cost right now.

The thing with this bubble is that it’s all terrible business plans. We’re 4 years in and no great leap. No productivity gain. No company that’s been able to turn the tech into something that makes a profit.

Yes, the tech will survive but if nobody is prepared to pay the actual compute costs, it’s going to get abandoned.

I just want it all to go bust so people stop talking to me about how great their sloppified project is. They can all go cry in a corner when Codex and Claude just aren’t there anymore, and they can’t be arsed to do any work for themselves.

I feel like we’ve gone a long way down the the rabbit hole from the point I was trying to make.

These idea of an “owner class” at fault is wrong, because it’s really the pension investment funds of normal people who don’t control their investments directly. Those funds are legally required to buy stocks which are listed on indexes, and all other decisions of what to buy are the fund managers.

It’s the investment banking and finance industry that control where the money goes.

People investing to try to have a pension at the end of their working life are a long way down the food chain.

i.e. every working person.

…handled for their benefit though.

Theoretically, yes. In reality they’re a long way down the food chain.

Thermionic Valves or Pneumatic transport pipes?

It’s not invisible though (despite them wanting it to be). The hand is the culture of the investment banks. They set who the winners and losers are, and if there was one thing The Big Short showed very well, it’s that anyone going against that culture is exiled.

Nah, it’s a poncy pub.

A bar retains the ponce but lacks beer.

They own, but they don’t control that ownership. Their savings are used as investment funds, but very few actually know what they are invested in. That control is in the hands of the indexes. S&P, NASDAQ and the like. Just because NASDAQ blessed SpaceX with being part of their index, millions of pensions bought the stock.