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Re:‘Capitalism is dead. Now we have something much worse’ by 1vuio0pswjnm7 on Sunday September 24, 2023 @06:56AM (#37631970)
"I read him McNamee's reply: "I buy the basic thesis. The US kept interest rates at near zero from 2009 to 2022. This encouraged business models that promised world-changing outcomes, even if they were completely unrealistic and/or hostile to the public interest (eg the gig economy, self-driving cars, crypto, metaverse, AI). This came at a time of no regulation of tech and an accepted culture in business that said executives should maximise shareholder value at expense of everything else (eg democracy, public health, public safety)... had rates been at 5% the past 14 years, I doubt very much that the gig economy, self-driving cars, crypto, metaverse or AI would have gotten even 10% as much funding.""
Re:‘Capitalism is dead. Now we have something much worse’ by roenxi on Sunday September 24, 2023 @07:24AM (#37632111)
Distorted interest rates touch everything. If we're going to pick a handful of things that low interest rates effected that basket is too varied. The gig economy is a major employer, the others are not. And AI isn't being pushed by low interest rates, it is being pushed by things like AlphaGo or ChatGPT being somewhat magical.
Re:‘Capitalism is dead. Now we have something much worse’ by _jmw125 on Sunday September 24, 2023 @08:15AM (#37632394)
...and where did the money for AlphaGo and ChatGPT come from again?
Re:‘Capitalism is dead. Now we have something much worse’ by roenxi on Sunday September 24, 2023 @08:25AM (#37632464)
Google and eventually the Paypal mafia types, respectively. You could have looked that up on Wikipedia.
Re:‘Capitalism is dead. Now we have something much worse’ by somewhereoutth on Sunday September 24, 2023 @08:17AM (#37632408)
ChatGPT and friends look magical, but as yet no great revolution in working practices or whatever has occurred. So the excitement about AI is based on 'very large future promise', which is exactly the kind of thing that ultra low interest rates tend to pump.
Re:‘Capitalism is dead. Now we have something much worse’ by roenxi on Sunday September 24, 2023 @08:26AM (#37632474)
I know a bunch of people who are very excited about AI and using it in a professional context. Their feelings are inspired by demonstrated and past performance, the future promise is so big that I don't think anyone can process it. I don't think they understand what exponential growth in processing power implies.
Re:‘Capitalism is dead. Now we have something much worse’ by aleph_minus_one on Sunday September 24, 2023 @08:45AM (#37632622)
> the future promise is so big that I don't think anyone can process it.

Sounds like a sentence that was taken from some pulpiteer's sermon when talking about god or afterlife. In other words: this promise is rather some nice fairy tale for some naive nerds and investors who love to believe in it.

> I don't think they understand what exponential growth in processing power implies.

This is very easy: for the data points (x_i, y_i), you can draw a decent straight line through the data transformed data points (x_i, log y_i). Thus: exponential growth is just some fancy term for "we do linear regression/linear Taylor approximation in this transformed space". I'm deeply impressed by such deep mathematics *sarc*.

Re:‘Capitalism is dead. Now we have something much worse’ by roenxi on Sunday September 24, 2023 @10:00AM (#37633200)
Although "we do linear regression ... in this transformed space" is correct, it also isn't an attempt to understand what exponential growth in processing power implies. That is an attempt (really, a success) at providing a definition of what exponential growth is [0].

Implications involves things like https://ourworldindata.org/brief-history-of-ai + little extrapolation. Interestingly, as I look at that article, it appears AI is actually solving college level math now - https://blog.research.google/2022/06/minerva-solving-quantit.... I wish I'd had that when I was at University.

[0] Ironically, ChatGPT doesn't usually make that mistake, because it always tries to be calm and helpful it consistently makes a better-than-human attempt at reading comprehension whenever I've interacted with it.

Re:‘Capitalism is dead. Now we have something much worse’ by soco on Monday September 25, 2023 @06:14AM (#37641553)
> I wish I'd had that when I was at University.

Looking back, what use do you think you would have today by having it in university? I'm asking because I don't think such a help solving the exams would have helped in your career later. Yes, would have made an easier university time, and left you less prepared for after that. We can (continue to) use ChatGPT for everything, it's just this will be also eroding our own capacity to do that thing, less exercise of our mental muscle. Maths and puzzles are said to help maintaining mental health with age, by outsourcing them to AI we also lose faster our own I.

Re:‘Capitalism is dead. Now we have something much worse’ by imtringued on Monday September 25, 2023 @09:23AM (#37643360)
His wish is akin to "I wish the AI lived my entire life for me".
Re:‘Capitalism is dead. Now we have something much worse’ by roenxi on Monday September 25, 2023 @04:48PM (#37650398)
You're being melodramatic. Humans have made extensive use of tools since well before the dawn of recorded history. There is nothing unusual about someone wanting to use a tool.

I find it easier to learn when someone (now, something) intelligent is on hand to explain the material. You both must be geniuses or psychics, because otherwise it is not clear how you gentlemen intend to learn otherwise.

Re:‘Capitalism is dead. Now we have something much worse’ by tcbawo on Sunday September 24, 2023 @10:54AM (#37633706)
Investors in the dot com bubble looked at a straight line and thought it would extend forever. Now investors are looking at an exponential line, expecting it to extend forever. It probably won’t and some will be disappointed. Ultimately, predictions of the future always look rosier and more advanced than reality. Progress is inexorable, undeniable, and arrives in unexpected ways.
Re:‘Capitalism is dead. Now we have something much worse’ by somewhereoutth on Sunday September 24, 2023 @09:04AM (#37632755)
> future promise is so big

Indeed! But as yet it is still just future promise - not much has materialized at large scale so far (to my knowledge - maybe copy writing? Seems to be a push back against obviously AI scripted content though).

A counter example might be spreadsheets - their introduction revolutionized book keeping (and lots of other things too). We wait to see whether AI will have a similar impact (I suspect it won't).