alt Hacker NewsThat's just a snarky way to describe all business investment that requires purchasing things made in the future. It's entirely normal.
You could literally rewrite the quote to be about iron and about building railroads for trains and passengers that don't exist yet. See how silly that would be?
Except the "profit that is mathematically impossible" part. That's just made up and false. It's entirely possible that we are actually underestimating demand, and there is going to be tons of profit. Nobody knows for sure, but profit is very, very, very possible.
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Didn't that actually happen with railroads? Like, there was a railroad bubble and lots of people lost a lot of money?
It happened with the Internet, too, and the Internet is pretty useful I think.
>Except the "profit that is mathematically impossible" part. That's just made up and false. It's entirely possible that we are actually underestimating demand, and there is going to be tons of profit.
JP Morgan says $650 billion in annual revenue required to deliver mere 10% return on AI buildout is equivalent to $35 payment from every iPhone user, or $180 from every Netflix subscriber 'in perpetuity.'
Very, very, very unlikely it makes profit, which why AI keeps getting overhyped by CEOs.
Uh... The history of railroads is littered with folks losing their investments for exactly this reason.
Was your point that owning the steel companies is the path to riches even when most of the railroads fail?
Where does the money for that profit come from?
Who buys anything made by AI if he could do it by AI themselves?
Who can afford AI if their customers do with AI what they do?
Who creates the next man made code needed as training data to prevent model collapse?
> You could literally rewrite the quote to be about iron and about building railroads for trains and passengers that don't exist yet. See how silly that would be?
Couldn't possibly happen with railroads!
https://libertystreeteconomics.newyorkfed.org/2016/02/crisis...