And they survive by doing capitalism right. Not “right” as a lot of economists seem define it. They take care of their customers and they take care of their people. Without screwing over either in pursuit of a tiny fraction of a percent better numbers. And their executives don’t make tens (or hundreds) of thousands of times as much as their average employees.
I dunno, this sounds like that AI slop that I get all the time on facebook.
The CEO looked out the window and thought about his customers: all the athletes who actually cared about the planet they trained on. The company's mission statement, which prominently featured the word "sustainability," sounded like a cheap lie given the audit results. The boardroom fell silent waiting for his decision...
cf. Marx General Law of Capitalist Accumulation
2 weeks ago
Say rather that the Chinese are a lot better at it than enormous Silicon Valley firms.
Given that the so-called 'Magnificent 7' account for half of the NASDAQ, I think I can get away with calling it American capitalism. It's not like there are some tiny companies, hidden in the shadows, that are somehow 'doing capitalism right'.
2 weeks ago
This is a podcast I've been watching, it's a branch of Scott Galloway's podcast
https://youtu.be/K8b1An5Rpcs?si=z7cix2YBS4UDHNSf
China's lowcost open-source AI is suddenly everywhere in Silicon Valley. While the US is spending billions of dollars building ever bigger models and data centers and inflating what some analysts say looks like an AI bubble, China is doing the exact opposite, it seems. cutting prices, opting for open sourcing weights, and shipping models that are cheaper, lighter, and surprisingly competitive, and American companies are flocking to them. Airbnb CEO says his team ditched Chat GPT for Alibaba's Quen model because it's quote unquote fast and cheap. Venture firms are switching to Moonshot's Kimmy LLM, and developer data show nearly half of the most used models in the US last week were Chinese. Alibaba just slashed prices on its flagship model again as part of a full-blown AI price war and a sign that involution has come to Chinese AI.
What kills me is that this is basically capitalism 101 and the Chinese are proving to be a whole lot better at it that the US.
During a recent interview with podcaster and OpenAI investor Brad Gerstner, Altman lost his cool when he was asked outright how it all adds up.
“How can a company with $13 billion in revenues make $1.4 trillion of spend commitments?” Gerstner asked him. “You’ve heard the criticism, Sam.”
“If you want to sell your shares, I’ll find you a buyer,” a taken-aback Altman replied curtly. “Enough.”
Surprised by the confrontation, Gerstner let out a laugh in response.
“I think there’s a lot of people who talk with a lot of breathless concern about our compute stuff or whatever that would be thrilled to buy shares,” Altman said, digging in his heels. “We could sell your shares or anybody else’s to some of the people who are making the most noise on Twitter about this very quickly.”
The problem is that there needs to be a starting event to pop, and that might happen tomorrow, next month, next year or in 2 or 3 years. So until then, we just watch and wait.
And they survive by doing capitalism right. Not “right” as a lot of economists seem define it. They take care of their customers and they take care of their people. Without screwing over either in pursuit of a tiny fraction of a percent better numbers. And their executives don’t make tens (or hundreds) of thousands of times as much as their average employees.
I dunno, this sounds like that AI slop that I get all the time on facebook.
The CEO looked out the window and thought about his customers: all the athletes who actually cared about the planet they trained on. The company's mission statement, which prominently featured the word "sustainability," sounded like a cheap lie given the audit results. The boardroom fell silent waiting for his decision...
cf. Marx General Law of Capitalist Accumulation
Say rather that the Chinese are a lot better at it than enormous Silicon Valley firms.
Given that the so-called 'Magnificent 7' account for half of the NASDAQ, I think I can get away with calling it American capitalism. It's not like there are some tiny companies, hidden in the shadows, that are somehow 'doing capitalism right'.
This is a podcast I've been watching, it's a branch of Scott Galloway's podcast
https://youtu.be/K8b1An5Rpcs?si=z7cix2YBS4UDHNSf
China's lowcost open-source AI is suddenly everywhere in Silicon Valley. While the US is spending billions of dollars building ever bigger models and data centers and inflating what some analysts say looks like an AI bubble, China is doing the exact opposite, it seems. cutting prices, opting for open sourcing weights, and shipping models that are cheaper, lighter, and surprisingly competitive, and American companies are flocking to them. Airbnb CEO says his team ditched Chat GPT for Alibaba's Quen model because it's quote unquote fast and cheap. Venture firms are switching to Moonshot's Kimmy LLM, and developer data show nearly half of the most used models in the US last week were Chinese. Alibaba just slashed prices on its flagship model again as part of a full-blown AI price war and a sign that involution has come to Chinese AI.
What kills me is that this is basically capitalism 101 and the Chinese are proving to be a whole lot better at it that the US.
I've been listening to a lot of podcasts about this and they emphasize it is not just an Nvidia bubble, but a problem with the whole industry. A couple of them point to this exchange with Altman
https://futurism.com/artificial-intelligence/sam-altman-loses-cool-revenue
The problem is that there needs to be a starting event to pop, and that might happen tomorrow, next month, next year or in 2 or 3 years. So until then, we just watch and wait.