Re:Cory Doctorow: What Kind of Bubble Is AI?
by tim333 on Wednesday December 20, 2023 @07:57AM
(#38708106)
Something missing here from other bubbles like dotcom, tulips, 2006 housing or dogecoin is people speculating on asset prices going up driving the thing. The root cause in all of those were people buying overpriced whatevers hoping to flip them to the next fool. There hasn't been very much of that yet with AI. Maybe it is to come?
Wikipedia's definition:
>An economic bubble (also called a speculative bubble or a financial bubble) is a period when current asset prices greatly exceed their intrinsic valuation, being the valuation that the underlying long-term fundamentals justify.
I'm not sure the AI stuff even qualifies as a bubble under that. If you assume better than human AI comes, which is quite likely, it will be able to do all the things and more so you could hazzard a value of the order of world GDP which is approx $100 trillion.
Wikipedia's definition:
>An economic bubble (also called a speculative bubble or a financial bubble) is a period when current asset prices greatly exceed their intrinsic valuation, being the valuation that the underlying long-term fundamentals justify.
I'm not sure the AI stuff even qualifies as a bubble under that. If you assume better than human AI comes, which is quite likely, it will be able to do all the things and more so you could hazzard a value of the order of world GDP which is approx $100 trillion.