>There's a weird contradiction you see from AI skeptics where they're afraid of how AI will change the world, but also seem convinced that AI will only ever produce slop that nobody would ever pay money for. [would -> should]

There is no logical contradiction even, just another race to the bottom, drying out of markets. The good ol' disruption playbook, like Amazon shrank or destroyed the markets to capture them, only now they are targeting all white collar jobs.

The conclusion starts: >I didn't write this article as some big takedown of the AI bubble theory. Even with this evidence, there are serious risks to the financial sustainability of the AI industry.

But the presented "evidence" is largely only: I don't know, nobody can tell the future. I mean there are also good reasons to be skeptic of skeptics like Ed Zitron, but Idk "modest valuation" seems like a big stretch. Also, I'd challenge the notion, that you'd only ever have to build that data centers _once_. Especially with the AI pace the chips are said to be replaced every three years, while the building itself could last 25 yrs. So even, if the run at the frontier cools down, I don't think running your data centers and models would come for free.