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The Subprime AI Crisis


None of what I write in this newsletter is about sowing doubt or "hating," but a sober evaluation of where we are today and where we may end up on the current path. I believe that the artificial intelligence boom — which would be better described as a generative AI boom

On Hacker News — the Reddit-style site owned by Sam Altman’s former alum, Y Combinator — one person complained about o1 hallucinating libraries and functions when presented with a programming task, and making mistakes when asked questions where the answer isn’t readily available on the Internet. When Mark Zuckerberg claimed we were about to enter the metaverse, large swaths of the media — the New York Times, The Verge, CBS News and CNN to name a few — humored an idea that was clearly flawed, one that looked like shit and was peddled using outright lies about the future. Even cryptocurrency — ostensibly a “decentralized” technology — quickly abandoned its free-wheeling libertarian ideas and sought to consolidate users on one of a few big platforms like Coinbase, OpenSea, Blur or Uniswap, all backed by the same venture capital firms (like Andreessen Horowitz).

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Subprime AI Crisis