Their financials are an utter mess. But they’re also hyped enough that a lot of money will get invested in them. Should they crash a lot of money will be lost.

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runako 6 hours ago | parent | next [-]

Say more about that? The economics look better than I was expecting.

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AJRF 6 hours ago | parent | prev | next [-]

Yeah, part of me wonders how much of it is shared delusion and how much is just cut throat racing for the exits.

Even if the tech + business fundamentals don't match reality, there's just so momentum in favor of a "win" here.

What we have today is interesting tech, with many, many applications - but the path to the kinds of things mentioned in this prospectus have no clear path, it seems like scaling laws are plateauing, but those invested speak as if it's a foregone conclusion we get AI we see in science fiction movies.

There is a good documentary called "All Watched Over by Machines of Loving Grace" which documents how computing started, the touted benefits (it would fix society, all illnesses, liberate humanity from work) - and the slow decline in optimism towards what we have today. I feel like AI will play out the same way.

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happa 6 hours ago | parent | prev | next [-]

Money is not lost, it merely changes hands.

	▲	peterdsharpe 4 hours ago \| parent \| next [-]
		This would have been true until ~50-200 years ago, and the advent of modern capital markets. Now, credit is center stage and cash is the sideshow.
	▲	flyinglizard 5 hours ago \| parent \| prev [-]
		It does get lost. Market cap can appear and vanish out of thin air. It's not a zero sum game, not remotely.

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saberience 5 hours ago | parent | prev [-]

How are they a mess? They look amazing honestly, and I work in an office surrounded by experts in analyzing statements like this.