With OpenAI hitting a $500B valuation, is there even any fair competition left for smaller AI companies?
I will note the inevitable bursting of this ridiculous bubble after every grotesque increase in the already grotesque market value of this dump without a sensible business model (copying Google results is not a sensible business model) with even a little more malicious glee.
I think many of us will feel satisfied seeing it burst, but we might be too busy dealing with the side effects of that crash to be able to enjoy that satisfaction much. It will not simply bankrupt Sam Altman.
While there is a huge amount of circular money happening because it’s all a financial scam, it is inflating share prices which are invested in by lots of institutions so when the bubble bursts and those shares are worthless a huge amount of wealth will be wiped out and the suffering will be very widespread hurting regular people.
The billionaires won’t be the ones queing for food. Hard to see much glee ahead unfortunately.
