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AI Bubble Teetering on the Brink as OpenAI Admits to Massive Financial Failure: A $20 billion setback. (futurism.com)
submitted 1 week ago by to c/technology@lemmy.world
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[–] 36 points 1 week ago* (last edited 1 week ago) (4 children)

Most of the historical boondoggles took about 5 years to work their way out. We are on year 3. If that's any guide, we got a whole lot more electric boogaloo left to play.

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  • [–] 24 points 1 week ago (3 children)

    Most boondoggles don't burn trillions of dollars. AI is starting to hit a wall already because there just isn't any more money. It's why there's this desperate push to go public even though their financials are a dumpster fire.

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  • [–] 8 points 1 week ago* (last edited 1 week ago) (1 child)

    As a percentage of Capex to GDP it's about a third of the way to where the railway mania was at during its peak. There's room to run. The difference between then and now is that all the spending is concentrated in a handful of companies.

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