alt Hacker Newsit is hilarious to read....
Sure, smartest CFO's on the planet together with CEO's just collectively buying vaporware. Most of them have access to best metrics on the consumer side, and internals on where the industry will be in 1-2 years.
Maybe, just maybe, they can see how AI will eat the world, the same way software once did but much faster, hence they need these investments. what a crazy theory, right?
Just think about it for one second.. What if... AI that just change professions of people in Math, software dev, etc. Will keep changing any knowledge work and by doing that will accumulate a lot of cash. What if?
Replies
> Sure, smartest CFO's on the planet together with CEO's just collectively buying vaporware. Most of them have access to best metrics on the consumer side, and internals on where the industry will be in 1-2 years.
That's exactly what the zeitgeist was in 2007. The "smartest" guys were loading up on collateralized debt obligations. They were the sure thing. The music was never, ever going to stop.
Something you need to realize is that the "smartest" in our society aren't really the smartest. They are members of a group that exists on inertia and a desire to maintain an egotistical and social incumbency. They rarely suffer real consequences, least of all from their own decisions and actions.
These are the same kinds of people who looked at Elizabeth Holmes' business idea and were going to have your health decisions guided by someone who couldn't finish a bachelor's degree in biochemistry, or any other bachelor's degree. They were in tech, they were in academia (though apparently not at the University of Missouri [0]), they were in finance, they were in media. These phenomenons build upon themselves because it's a bunch of people in a club who can't admit to each other that the lemonade is really piss.
When there are questions being posed by people who are actually informed, who don't have a vested interest, those questions need to be answered. Even if the answer is "piss".
[0]https://www.darkdaily.com/2019/07/15/skeptical-missouri-path...
So does Apple and they're not buying into this nonsense. They'll probably acquire the tech for pennies on the dollar when the whole thing implodes.
I'm with you.
But I don't think they see it in ideological terms.
For them, the bottom line is that it's basically going to double cloud revenue over time.
How many times in history do you get to literally increase an existing revenue stream by 100%?
Haha "What if!" this moron says while historically laughing. Another trillion for all the smart CEO's!
It's the totality of winning in that hypothetical that's forcing them to play. If they don't play and miss out they're done for. If they all play and get burned it'll be a sector-wide drawdown and some less financially stable entities might get wiped.