Why AI Is Tech's Latest Hoax

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Tech is a sector unlike any other - it’s an industry where individuals can turn into billionaires overnight, ideas supersede fundamentals, and leaders are rewarded for showmanship. In today’s Silicon Valley, innovation is crowned and not earned. Venture capitalists and founders are symbiotic. Unprofitable companies are kept alive with injections of capital, gamed valuations, and manufactured hype with the goal of surviving long enough to IPO.
Starting in the early 2010s, Silicon Valley had championed big data as a revolutionary technology that could unearth deep insights, hidden patterns, and innovation from massive amounts of data. Yet the market started to question in the early 2020s if any of these promises had even been real as nearly all consumer and SaaS startups were still bleeding nearly a decade later.
Out of nowhere, ChatGPT was released and AI became Silicon Valley’s next big thing. Every tech company is now an “AI company”, every Fortune 500 needs an “AI strategy”, VCs are only investing in AI startups, and every product is an “AI” product. This is a deep dive into how artificial intelligence is just the latest tale spun by Silicon Valley to sweep prior failed trends under the rug, keep valuations high, and outlook positive.
Before AI, there was crypto, web3, blockchain, virtual reality, big data, IoT, and wearables - all supposedly revolutionary technologies that have never lived up to the hype. In this episode, we’ll dive into the market dynamics that push companies and individuals to jump headfirst into tech trends, how this all started with big data, and why AI is ultimately just another pump-and-dump.
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0:00 Modern Silicon Valley
6:42 Sponsor Break (Kajabi)
8:29 Post Dot-Com Beginnings
17:22 Data-Driven FOMO
28:19 Shovel Economics

[@ModernMBA]

Right now, Kajabi is offering a free 30-day trial to start your business if you go to kajabi.com/modernmba 0:00 Modern Silicon Valley 6:42 Sponsor Break (Kajabi) 8:29 Post Dot-Com Beginnings 17:22 Data-Driven FOMO 28:19 Shovel Economics

[@TheManinBlack9054]

Ai is not a hoax, its a legitimate field of science with decades of history spanning from the 1950s. AI can have real world consequences, boht good and negative, unlike, let's say, NFTs or IoT. These are, of course, have their own uses, but none are as revolutionary or transforming as AI, not even close. If this was true no one would care and no one would be affected by AI, same as no one was affected by NFTs, the impact on anything was minimal, AI is far bigger than that both in scope, potential and in implementation. There are good reasons as to why many top AI researchers (Geoffrey Hinton, Yoshua Bengio, Stuart Russel and David McAllester just to name a few) are talking about existential risks stemming from advanced AI (AGI), many of them talking about it long before the current AI boom, you did not see that with crypto or NFTs or IoT or whatever it was. AI is different. We are building not a tool, but a tool maker an a tool user.

[@stevechance150]

Today is May 26th, 2024. I predict this video is NOT going to age well. Let's talk again three years from today and see who is right.

[@AMPProf]

YOU DO FULL UNDERSTAND : That due to this Hoax and it's concurred Definitions.. We can not be certain This comment or your Video are not AI.. ALSO ALL HAIL AI AI IS ONE

[@threeNineFive0]

why kajabi is tech’s latest hoax

[@nero008]

some graphs are probably wrong, you say companies are losing but their net revenue is increasing Y2Y

[@ZontarDow]

As with any gold rush, the only one making money is the one selling shovels and beer, which in this case is Nvidia.

[@TheHonestBroker]

There was gold mined during the gold rush. You understand that, don't you?

[@ZontarDow]

@@TheHonestBroker yes and it bought a lot of men a lot of alcohol and time with prostitutes.

[@kaboomkp]

I don’t think you got the metaphor

[@conman-sr5md]

​@@TheHonestBrokermost miners didn't strike it rich during any gold rush. The best way to make money was to take advantage of the hype and open a saloon

[@Hitjuich]

But even Nvidia depends on people believing that there are money to be made through AI. Edit: People keeps tagging me so I am going to explain in more detail what I mean. The gold rush analogue might be accurate, but not entirely. 90-something percent Nvidia's business is from sale of their AI enterprise GPU to businesses. Yes they make money now, but if the other tech giants realise that AI isn't as profitable as expected their stock will crash

[@kewgardensstation]

Starbucks is confused about its precipitous loss of revenue in 2024? I'm not. I'll tell you EXACTLY why. Everything that was unique about the Starbucks experience - ordering a cup of coffee, perhaps a bakery item or a lunch (love their PB&J meal) sitting down on one of their comfy couches, propping my feet up and doing work on my laptop, or just browsing the Internet, or even just meeting a friend for coffee, all disappeared during the pandemic. They took out all the comfortable seating, removed the electrical plugs for your laptop, and replaced everything with low, long wooden tables, hard wooden stools with no backs to sit on, reduced the seating to almost nothing, and basically turned Starbucks into just another place to get an overpriced cup of coffee. The business model is now "Order your coffee by mobile app, come pick up your coffee, and get the f*ck out. Next in line, please!" Hell, I can just brew my coffee at home cheaper and have a more pleasant experience.

[@tristan7216]

Philz is better coffee too. I do like Bucks' frap and nitro products tho.

[@claytonreardon42069]

Former Starbucks employee and can confirm that this is exactly the current business strategy.

[@vitoc8454]

Starbucks in the Philippines are still a relatively comfy experience. Hell, there's been a recent controversy / debate that people are spending *too much* time in Starbucks here, doing things ranging from homework to *office meetings*

[@DirkAndDestroy]

Also getting boycotted due to Gaza conflict.

[@AY-oi3hv]

@@DirkAndDestroy Yup. They lost a huge portion of their main demographic of millennials and Gen z, plus their fastest growing markets in the Middle East, Indonesia & Malaysia took a big - for obvious reasons..

[@tedbendixson]

I was not expecting this video to strike such a chord with me. I've worked as a software engineer for over a decade, and I had this overwhelming feeling my job was complete bullshit for most of that time. We use bad technologies simply because they're popular, and most of the engineers don't really understand how computers actually work. The section about people being extremely tribal and only learning things because it pads a resume is 100% the truth. It's just a disgusting industry to be a part of if you have any integrity, just lies lies and more lies. I hadn't heard a great explanation of *why* it sucks to work in tech until I came across this video. Thank you, from the bottom of my heart, for making this.

[@Fe22234]

The industry is large you know there are parts where none of that happens and people just solve business problems with technology and provide real world value.

[@bobpurcell8357]

I for one wonder if Google and its subsidiaries (or Alphabet, or whatever their nom de scam is currently) simply decided to turn everything over to the AI (customer service, tax evasion, they're still doing one of the two, probably. Almost forgot 'reducing their accountability' and 'expediting their enshittification.'🙄) They themselves may have disappeared. Try recovering your password sometime, if you enjoy aggravation.

[@Stevenpwalsh]

@@Fe22234 Will agree, i've worked for some of the companies mentioned in this video.... so maybe my opinion is biased, but i've seen big data, and AI provide real value. Maybe not the orders of magnitude of value promised.... but there is a signal, it's not all noise.

[@stevenlaczko8688]

This is why I'm leaving my CS degree behind.

[@nobreath181818]

If you think any industry is any different from tech you’ve lost the plot.

[@oskari3659]

Those corporate talk videos made me feel physically uncomfortable.

[@NDnf84]

For real. It's nauseating. They sound like politicians.

[@armynyus9123]

Same here. Can't stand that anymore.

[@oskari3659]

@@armynyus9123 I can't avoid it at work unfortunately.

[@armynyus9123]

@@oskari3659 Same here. Plus being put on podiums at fairs and expected to deliver that bs as well 😞

[@houseofhas9355]

It made want to take a dump. I was so uneasy I called my doctor😂

[@lephtovermeet]

I 3d printed an direct to consumer self driving all electric ai block chain app, I'm worth 80 trillion dollars now.

[@Idkhowtofkinread]

Where do I invest

[@kevinvest9693]

Shut up and take my money! Lol

[@sujalgarewal2685]

What??? You haven't deployed it to cloud using the latest DevOps pipeline that disrupts the industry and touches lives? You're missing out on another $100 tr.

[@wolfgang1667]

dISRuPTioN

[@thegoodwin]

Lol

[@Cookiemaster333]

This video made me realize something for the first time. Every company is trying to use big data and/or AI to "understand the consumer", with the goal of trying to sell their crappy, overpriced product. So instead of focusing efforts trying to make a good product, for a reasonable price, they are trying to sell me their crappy product for as much as possible, and hope that AI tells them how to do that. I think customers are easy to understand - just don't rip me off man. No wonder most of them are failing.

[@Rize_Back]

Making a good product for a reasonable price? That's not how you make 257 billion dollars next quarter.

[@billyj.causeyvideoguy7361]

@@Rize_Backthe one unifying thing of the tech sector and the marketing sector is the assumption that everyone else is an idiot.

[@JLeeAgency]

Super underrated comment, lol

[@NeostormXLMAX]

Its called technofeudalism, capitalists would sell you a better tv, while technofeudalists will find ways to make you pay your old tvs subscription

[@wyw876]

Supply-side economics will never make us the big bucks if you keep messing with the supply through product differentiation by studying what the market wants - the rubes keep changing what they tell us they want, and we keep wasting money by changing the factory around. You get flush by focusing on demand generation for your cookie-cutter product.

[@schlichter11]

I was told by a CTO that my proposal to cut IT department expenditure by over 50% at our company by moving away from those Tribal providers, was DOA b/c when this company failed everyone had to get another job and having those ‘industry standard’ solutions on their resume was the only way to do it. Company went bankrupt about 18 months later. But to his credit we all did get other jobs.

[@claytonreardon42069]

Honestly, he kind of sounds like a real one. At least he was straight up with you.

[@user-uq1sn5ob3k]

He more or less gave up lmao

[@wintermute5974]

It's funny that from a certain pov he was actually looking out for the employees best interests by doing that.

[@wasd____]

@@user-uq1sn5ob3k He was being a realist instead of a bullshitter. Good on him.

[@ElectrostatiCrow]

The funniest part of all of these hype cycles is watching people jump from one hyped up product to another. Crypto, Ai, drop shipping, ChatGPT, and the rest. I like how they always insult others for just being rational about the technology being useless or, at the very least, not good enough as it is. They just forget the broken promises of the last piece of tech and jump to the next one.

[@SashaExcelsior]

I absolutely agree about hype cycles. Do these things not perform though? Crypto hits new highs pretty often. Most students use ChatGPT even if they won’t admit it and it’s pretty dang new.

[@dillonblair6491]

to be fair, most people actually use ai, and the manufactured hate train isnt gonna stop that.

[@plufim]

Don't forget the metaverse!

[@ElectrostatiCrow]

@@SashaExcelsior Crypto hasn't lived up to the promises. It hasn't replaced physical cash. It's just used in the same way as casinos are used.

[@ElectrostatiCrow]

@@SashaExcelsior ChatGPT is fine for basic procedures. It fails to write good code or write a very coherent story.

[@samsaek666]

Once I started seeing generic airport ads from big dinosaur companies mentioning AI I knew it was dead

[@brainites]

Wicked!

[@_thisconnected_]

Lmfaoo. I liked ExxonMobil when they were destabilizing local governments

[@augustusomega4708]

I knew it was a roast when I watched Altman telling an audience of Arabs from Dubai that open AI will need 7 trillion dollars for infrastructure funding...because if you're gonna use your AI to troll for money you may as well follow its advice/hallucination.

[@matsiv5707]

overhyped is way different from dead, "AI" (pretty meaningless umbrella term) has been used to great success for years ..Let me ask you: do you think machine translation is dead? Facebook recommendation algorithm might have issues but it serves its main purpose of maximizing user retention. And so on. I would say it's the opposite of dead because even if a fraction of a % of that AI money goes to actual research, it's still a win

[@laartwork]

​@matsiv5707 you are 100% correct (not sure of win as it's usually a win to a tiny few) but these videos are coping mechanisms. They are Chamberlain meeting with Hitler and assuring everyone there is nothing to worry about. Too many companies are using A.I as a meaninless term like when everything was "green". Doesn't mean A.I. isn't going to start affecting your life just like Big Data is affecting your life even if you aren't aware of it.

[@BRichard312]

I am a Data Scientist. I would like to chime in on this fascinating topic. I was a Software Engineer before I transitioned to Data Science. To me, the big scam is not AI it's BIG DATA. Does anyone know that through statistics, the difference between a sample and a population determines whether you think big data must be used or not? The reality is big data is NOT required, and let me say this again, big data is NOT required to generate predictive analytics. What is needed is TARGETED data and that is a big difference. Now you do in fact need some data but I can turn out a very compelling machine learning model using 100,000 records of data if I can get a sample size that represents the population. That is the key to reducing the overfitting of a ML model which is one of the most challenging aspects of developing a successful prediction model. You need to know the difference between a statistically significant SAMPLE which is the key to machine learning. So, if you don't know any better, you believe that you must spend thousands of dollars on some nonsensical cloud solution to host 100 million records of data for analysis. That is utter BS. Give me a distribution with a standard error of .01 to .10 and I will give you a VERY accurate ML model with less than 100,000 records.

[@debrascott8775]

Not to mention that corp leaders only SAY they make data driven decisions, when in reality, they use the data to support whatever their ideas are. No one has ever used data to prove themselves wrong when its something they want or believe.

[@TheNeo349]

@@debrascott8775 first gather the data then torture it long enough to generate whatever results you want.

[@davidwensboposaric5498]

So true. The very concept of big data is a gross violation of statistics 101, first chapter, first sentence, first three words - Take a sample...

[@tristan7216]

Well, we have an existence proof that systems can learn without petabyte volumes of data, at only around 100 Watts continuous draw. 8 billion units shipped so far...

[@dondonnysson4973]

Your understanding is rudimentary at best. Tell me, what is a statistically significant sample from the distribution of all possible images? Image generation is based on sampling from the theoretical distribution of all possible images. Problems like this is beyond your 1800s statistics.

[@asperganoid]

Oh wow, I totally forgot about the "big data" hype train. It was everywhere and then very quickly nowhere. That's crazy.

[@mondodimotori]

Just because it's out of the public talk doesn't mean shit. In universities Big Data is still there. In the professional IT sector is still there.

[@IDNeon357]

​@mondodimotori I assure you. No it's not

[@safetycar-onboard]

Hype is gone, technology is still here and it's everywhere. Ignorance is not an argument.

[@worawatli8952]

The idea of more data = better solution is so flawed from the start. If you have more garbage, you would still get more garbage, not better solutions.

[@mikezooper]

They sort through the trash data. You’re partly right. It’s more that humans do more with less data/info. We need to mimic that type of intelligence.

[@aphantasiagreyman8445]

After 20+ years in IT the only consistently performing tech innovation I have seen is Bullshido.

[@nervousallday]

Agreed. Three years, me and the rest of the tech team were sitting around a table with the CEO of my company trying to explain why there was no practical reason for us to try and shoehorn blockchain into our tech stack or daily operations. The overall theme here isn't that AI is useless, it's that these hype cycles rarely deliver the results they promise and mostly serve as a way to prop up tech companies and boost valuations.

[@gokiburi-chan4255]

someone should write a book on the core tenants of bulshido

[@augustusomega4708]

​@@gokiburi-chan4255 tenet

[@realhet]

@@nervousallday The problem is that we are no longer writing software for users, we write them to satisfy CEOs and investors.

[@m.o.n.d.e.g.r.e.e.n]

@@realhet there is a fun sleight of hand that always goes on if you're someone who's into economics/business because you get to enjoy watching companies explain to shareholders how a new thing will bloodsuck users (see google explaining how they are making search worse to maximise ad clicks), while they are telling users how amazing the new thing will be for them

[@NobodyInTraining]

Rory Sutherland makes an interesting point about this: despite all the data being collected about you from every website, personalised advertising has largely failed. Online ads are 99% irrelevant to me. They can predict my demographics and some topics of interest. But heck, even TV and magazine ads could do that. There is none of the hyper-personalisation that's been prophesied for 30 years, that the machines would understand my preferences better than I do. Same with content recommendations from Facebook, Spotify etc. They also cannot predict any new things I might be interested in based on my personality. They just just shovel more of what I've once interacted with. That reminds me of another relevant Rory quote: "All big data comes from the past."

[@sp123]

​@@NobodyInTraining"If I listened to what people wanted, I would've created a cart with more horses" - Henry Ford

[@jeevan88888]

​@@NobodyInTraining you can create new inventions, check out alphafold n google gnome.

[@kingbonezai4925]

THIS

[@kristiyangerasimov6708]

hard disagree. The spotify daily mixes are spot-on and I discover music I like mostly through them. Personalized experience can be really good if done right. And have you ever noticed how when talking about black dildos with your phone on the table, the next time you unlock it google and facebook feeds are filled with ads for sex shops around? that's personalized targetted ads off of spying on you in real time. What more do you want?

[@timopint1125]

99.9% of people thinking that are braindead consumers that dont need to be advertised anymore

[@womp6338]

The tech is actually pretty useful, it’s just really overhyped. AI kind of evolved out of big data. It will take a long time for it to be refined

[@kunti_putra]

The funny part is that even appliances like washing machines, microwaves, etc have become 'AI Enabled' 😂😂

[@realmetapro8556]

Corporations are so eager to be first to market with things like AI that they don’t spend enough time upfront to understand how it can actually fit in and drive value for their brand. Just release the AI deck and we’ll figure it out along the way. It’s bad.

[@johnl.7754]

It’s easier to be reckless when there’s so much money in the system

[@Hairy.Whodini]

That's the whole point: take massive amounts from investors and ipo (cash out) before the hype dies.

[@kylemalachowski]

This is a new massive development in the marketing and business of tech these days. You are right. It’s bad. Why provide a fully complete product when you can continue to develop AFTER its sell.

[@mddell24]

I saw this/these approaches to product development since 1990. I concluded the winner was almost always the worst product with the best and latest marketing strategy. Have the idea then the market strategy, start the selling then the build product. And that is what the western world does all the time. Not a care for any damage done as long as it can show the biggest number. All the share traders follow. If you are wondering why/how China out competes, have a think about communist-capitalist method. The problem of thinking only in dollars, is, you forget what you are doing.

[@LancesArmorStriking]

Shortsighted, narrow-minded greedy, sleazy, opportunists. What else is new?

[@letmeseemm]

As a former data scientist its funny to hear so many companies talk about how they thought thier data would be a game changer. Most companies didn't realize the limitations of thier in house data sets and didn't realize that they were collecting useless info. They didn't realize how they needed to collaborate with competitors and other companies in order to have robust data that would actually be useful. But even in doing all that I think the inherent issue with relying on data is that it looks at the past to predict the future which will always be faulty

[@MultiHeheboy]

Data scientist here also, usually data doesn't give better result than someone thinking critically. Most often our job was to backup their idea with data, or change narratives to looks good for the investors. Problem with big data you can derive whatever result you want. Most often useless.

[@chrisparky]

@@MultiHeheboy Jeff Bezos actually says this, does anecdotal information back up the data, is the hypothesis backed by the data or is the data leading or lagging the actual experience. Let's be honest, Big data boils down to a bar chart in a spreadsheet. It's never going to be anything more than that.

[@sunloon]

​@@MultiHeheboy Also as a Data Scientist I will disagree somewhat as there are always problems that people don't know the answer too which we use data to understand. However that usually comes with a lot of time and testing which is more the science of data science which you rarely have in a for profit business. I've also seen way too many times people suffer from decision paralysis when they have a lot of data. The use of data needs to match the business so shoving big data into a small company will overwhelm them and provide any executive with an unfiltered stream of data at a big company will drown them too.

[@diablorojo3887]

The most infuriating thing is even if is possible take a result usable from the data, companies disregard the results because is not the answer they want

[@sunloon]

@@diablorojo3887 yeah most "data driven organizations" are not that at all. They don't follow the data the data follows them.

[@matt-sauer]

The irony on how the advert is for sustainably creating content but the editing on this video ended up choppy and repeating words as if made in an unsustainable pace.

[@vitoc8454]

Also the title is "Why AI is the latest scam" but 28 minutes in he's still talking about the *Data Trend.* This video feels like it's mostly intro.

[@LikaLaruku]

This video was made using AI on a video about how AI is a scam. This is like some Jake Tran 4D chess move, lol.

[@ricand5498]

@@vitoc8454yeah there’s a lot of “it’s a hype cycle, this is what happened last time” and not enough WHY it’s happening. I agree with the premise but the explanation was lacking

[@bh4462]

Anyone else notice the janky editing in the middle-ish third of the video?

[@broadcast665]

A.i. could have helped here 😂

[@makerKID5]

to be fair the Big data era wasn't a complete failure. We are in the AI era because of Big Data. This is where the training data for these LLM comes from. A logical evolution.

[@tamulemon]

Not 100%. The data used to train generative LLM is mostly natural language. The so called big data discussed here is mostly transactional and telemetry data.

[@aarons8711]

⁠@@tamulemon I think there’s a disconnect on what we define as AI. AI/ML has traditionally covered KNN and multi-layer networks used to detect, say, credit card fraud (or more generally, parse hard data). Since the atmospheric rise of GPT’s, people associate AI with nlp but this is a recent shift. I agree with @makerKID5, a lot of work that was previously labeled Big Data is now being called AI work. This work is companies collecting large amount of data and building models that accurately (and automatically) predict useful things. Whatever you want to call this type of work, it is fundamental and deeply useful for a business. For this reason it’s weird to call Big Data/ AI a fad-maybe the label is but the work certainly isn’t.

[@timop6340]

​@@aarons8711 basically all executive decisions get so much money and resources behind them that the end result can be viewed as success. Unless executives pull the plug too early.

[@Travolta12e]

@@tamulemon AI is more than just LLMs

[@kangaroomax8198]

@@tamulemon That's incorrect. Big data is inclusive of structured and unstructured data. Structured data is the telemetry signals used in Machine Learning models like Amazon's Recommender systems. Unstructured is what powers LLMs. Both are part of big data, which primarily refers to the mechanism of storage, data movement, and transformation.

[@rivcogent]

My business partner and I bought into the idea AI could assist us. What we ended up finding out is that using AI as a wiki was no better than asking people to read the wiki. We had to train the AI how to read the data and provide the correct response only to find out that we also had to train it to understand certain terms, abbreviations, that we were raising an infant. It was torture. The AI would respond to simple questions with wrong information. Grabbing info from one part and sharing that info to our employees, confusing literally everyone.

[@plaidchuck]

sounds like you needed better developers

[@rivcogent]

@@plaidchuck this was an off the shelf AI software called Guru. Its not my responsibility to hire better developers. That’s a strange assumption to make.

[@yunowhatitis6783]

I'm curious if you stuck to it in the end. Since you already trained it as if you hired a freshie anyway, and the difference is this freshie is cheaper and will never quit.

[@rivcogent]

@@yunowhatitis6783 we do still have our account and we’re deciding whether it’s a sunk cost or if we should get rid of it. It really is a nightmare because of the amount of time you have to spend training the AI. Even after you train it, it still finds ways to unlearn what you’ve taught it and will respond the same wrong information you’ve already worked on. Much like a real employee. Bear in mind, it’s not a big savings if every single time you want to teach a new thing, your most expensive employees (ownership or management) is struggling to figure out how to get the AI to share the correct information. We would almost rather setup a paid video onboarding process which we were quoted $3,000 for up to 3 roles. Thats pretty competitive over time.

[@dante_1273]

​@@plaidchuckyeah, I mean just hire pros man

[@kalliste23]

Spot on. What's the next tech bubble. Quantum Computing? Fusion power? Asteroid mining? Space hotels? Flying cars?

[@shroomer3867]

The next tech bubble is going to be "Artificial Bubble" and it's going to be how you can invest into a bubble on a website which has no physical value but it will pop and go down manually, but you don't know where that's going to be, it could be 5 days after or 5 years after, and the creator has a button which pops the bubble and makes it go to 0.00$ with everything left going to the creator. Obviously large tech companies will be notified 1 day prior on the exact hour that the bubble will pop but you can still win it big if you play your cards right, now don't question how that's legal and get on to investing. "What's that you left while the price was 12.53$? Should have held longer, now it's at 54.20$, bubble hands it's where it's at 👐👐‼HOBL TO THE MOON 🌕 🌕"

[@michelep9477]

I been hearing about quantum computing since the 90's. Where is it, and what does it do? that is still unclear

[@Redmanticore]

definitely claiming asteroids will fix our resource problems, that asteroids are infinite and easy to pick up to earth.. and elon will probably claim that. and that it will be possible in just a few years.

[@snage-thesnakemage]

​@@michelep9477 1. its in the hands of very wealthy people. 2. it basically lets you compute things a lot quicker and has the promise of breaking a lot internet cryptography, BUTTTTT the problem is that it takes massive resources to even get it up off the ground. using quantum events while filtering out noise and making these events detectable in the first place takes immense cooling and hardware. So until we figure out a way to either efficiently read quantum events in an average(non-lab) setting, or cheap small efficient cooling, its not going to mean anything.

[@neociber24]

Asteroid mining will be so hype

[@dandruff3414]

AI is like a kid who has large access to information but unable to understand context (at least for now)

[@gl4ce]

What irritates me the most in every modern Silicon Valley and Big Tech story is that hardly anybody ever remembers the people who actually build the hardware that runs all this crap. The humble engineers and technicians working in crystal growth, epitaxy, photolitography, thin film deposition, chemistry, etching, packaging etc. Assuming that they weren't laid off when the manufacturing plant was moved to China, that is

[@blake9746]

We worship the individual to a fault. Nowhere is this more apparent than big tech.

[@bugostare]

Because engineers don't go around pretending to be prophets

[@cryora]

Most people don't know what all that stuff is. The people who work on that stuff don't know how their work is applied and integrated with other technologies and ultimately used to drive monetization.

[@e2rqey]

yeah the semiconductor industry hasn't moved to China. its still very profitable and mostly in Taiwan (as it has been for decades). if anything, there is more semiconductor manufacturing and other components of that supply chain being built in Europe, South Korea USA, and Japan. those jobs aren't going to China. governments understand the value of the semiconductor industry and the US has a lot of power over where those chips can be produced and who can produce them. China is trying (and mostly failing) to build their own domestic semiconductor industry. its a shadow of the one that exists outside of china. As the US and west obviously have no desire to let China in to this massive market and especially since it's value to the rest of the global economy is so large. it's also arguably not an industry that can be built from top to bottom within a single country.

[@NeostormXLMAX]

@@e2rqeylmao china failing? They are literally leepfroging in progress, you arrogance is exactly what these people did when they thought they could snag the market with some gimmick , china literally banned amd and intel chips recently and is slowly gaining the market

[@hamzix6599]

as an engineer working in tech industry I can't find any more accurate video describing the tech space. Just follow what ever trend, slap it in your resume, find a job with a good salary, and move on to next trend and do the same thing over again At the end of the day no one cares about the tech itself we just want to put food on the table

[@ayy479]

hasn't tech just always been this way though? i got the impression in the video he was acting like it was a relatively new thing... I feel like what he's been describing in tech has been going on for decades now

[@kwwamalwa]

​@@ayy479 This is kinda new. Tech was mostly about hardware. It's only in the last 20 or so years that the center of gravity has shifted towards software. It's hard to overhype hardware. Your thing either works or it doesn't. You can't really get away with tricks. With software, you can make all sorts of promises because it's virtually impossible for any one to look under the hood and confirm what you're saying. Amazon had AI self checkout that was actually being operated by workers in India. I remember some other handyman app valued at 1b that pretended to have a sophisticated algorithm matching users to handymen when all the matching was actually being done by underpaid freelancers in the Philippines. Same with ChatGPT's data. Freelancers in the 3rd world are getting paid a couple of bucks a day to label data and review output for accuracy. The algorithms are nowhere near as advanced as Big Tech wants us to believe. You can't get away with that kind of bullshittery in any other industry. The likes of Google and Facebook plus widespread smartphone adoption are what fueled the software hype. A lot of the success of the likes of Facebook or Instagram may just be a matter of luck but you can't sell luck to investors. You have to package up a different story and sell that.

[@hamzix6599]

@ayy479 yes this not new as you are saying

[@davidlones365]

So you're still using Fortran and COBOL??? or did you cave in and start "following trends" like the rest of us to "just to slap it in your resume and find a job with a good salary"?

[@tedbendixson]

@@davidlones365 The few remaining COBOL and Fortran programmers make pretty good money these days.

[@andrewbishop3078]

I don’t know about anyone else, but I recently saw someone mention that the way these tech startups and trends are being shoved down our throats, eventually people will return to more in-person interactions. Online shopping feels worse, and searching for anything online is getting worse too. I feel inclined to agree, it’ll be slow but I already notice myself moving away from buying everything online

[@draig8259]

One can hope so, because I agree that face-to-face interactions and physical experiences are better than digital ones, but with the internet infrastructure that's been built up now, doing everything online is just easier than doing it in person. And when one option is easier than another, you can expect people to take that one more often.

[@micahmcclatchey1096]

Almost every ad on this video is ai services lol

[@alphaperez]

Hey wall street tech analyst here, love the channel. One of your earlier videos actually cited/displayed a chart I had created many years ago and I thought that was kinda cool. My team tested numerous consumer AI services, and none of them could produce text I would consider publishing in one of my reports. The question is 1) who is making money on AI currently? The answer is Nvidia, but this is hardware used to enable AI services. The software services themselves are a much harder value prop and people/companies are balking at pricing. OpenAI has decent revenue from the early-adopter crowd. Alphabet, Meta, Amazon, Microsoft....biggest names in tech and nobody is seeing surging revenue, nobody is seeing rapid margin improvement from AI. The other question is 2) why is Nvidia making SO MUCH MONEY selling its chipsets? The answer is because Alphabet, Meta and others are spending literal effing BOATLOADS of cash on AI infrastructure. Again, the smartest names in tech are spending like drunken sailors to upgrade their servers to accommodate Nvidia's AI chipsets, under the premise that these AI server farms will power the surging AI compute needs of the future. Look at the Capex spending of the large tech giants, and they are all doing the same thing, they are pouring cash into AI investments chiefly by purchasing Nvidia chipsets like the H100. It's also not a coincidence that having a huge number of H100s is great for attracting and retaining talent. I do believe in the ultimate promise of AI but we are not there yet.

[@JiveCinema]

So buy more $NVDA. Got it~

[@g0r3ify]

No offence. But a financial analyst criticizing services that don't deliver what they promise, is hard to beat irony.

[@punditgi]

Agreed. Gold rush is apt description for the AI craze that is just digging up fool's gold. 😢

[@thelight3112]

People are forgetting that every revolutionary technology has taken a decade (usually longer) to mature and make a real difference. Trains, electricity, computers, and the Internet all had a decade or more of being in a "useless" state after invention.

[@DarrenK-iv4ts]

You need the compute power to get there.

[@longtermgains8253]

@ModernMBA bro we need the porn industry explained. Before and after the internet. Ive always heard that its a multi-billion dollar industry but have always asked "whos paying for it?" Clearly the actors aren't earning it? One could say the free websites are earning it from ad revenue but are that many people clicking on fake personal sites?

[@Nohandleentered]

If i had to guess its like mobile gaming. i.e. whales are the ones paying (those people who get addicted).

[@mongobubongo834]

Onllyfans itself is worth almost 10 billion and makes over a billion in revenue a year

[@xrkuzd1569]

Stop talking about Porn! Stop asking why free porn is so accessible to any and everyone! Stop noticing!

[@kevinbimariga3895]

Juice?

[@H0mework]

@@mongobubongo834revenue isn't profit though, I wonder what the margins are.

[@xeridea]

I tried Pandora back in the day, their "suggestions" were more like a radio station playing the same songs over and over, rather than taking into account what song styles I tried to steer it towards. So I switched to Spotify before they were officially in the US. I could make my own playlists, and the quality of stations based on my tastes were far more diverse and superior.

[@Haz2288]

As a data scientist, it's wild to see such a well structured analysis of how big data hasn't made good on it's promise. Can't argue with it though

[@montek1singh12345678]

When the business fundamentals are weak, no technology can save it.

[@tikkivolta2854]

yea it can. by using tech to figure out why it's weak. this is an absolute statement that is simply not true unless you're unable to adapt.

[@starsandallwitch]

​@@tikkivolta2854I think you might want to read and learn more because what you're saying is quite naive

[@mickeyg7219]

@@tikkivolta2854 AI isn't that smart. AI doesn't have access to a pool of knowledge of mankind, and even if it did, there are more junks in there than not, and AI couldn't tell whether something is objectively true or not. It's no doubt good at language applications, like correcting spellings and grammar, but anything where natural facts are involved, they failed consistently. If they can't do that properly, then I wouldn't put my faith into AI being able to solve business failure.

[@tikkivolta2854]

@@starsandallwitch how so?

[@tikkivolta2854]

@@mickeyg7219 i recently cracked a real life legal case with it in 28minutes. i don't know what you expect from it in its current autistic state, but from where i sit "it" doesn't have to be smart, it's just a tool that helps me to perform at 800%. and although i get the pessimistic view on diminishing returns, i can see us nowhere near it. and again: even if we stopped right now, i am able to optimize the heck out of my biz.

[@ktanner438]

Today, Modern MBA dunks harder than the Nuggets

[@SleepyMagii]

Mad funny 😂

[@donationdan6250]

Nah. Using the issues present in micro loans or D2C business models with low customer return rates to discredit and entirely unrelated product development is nothing short of retarded. Guy needs to retake econ101

[@elseby]

Just realize that the entire premise of their channel would be negated by AI

[@giraffefactory2905]

@@elseby which AI ? Is this "AI" in the room with us right now ?

[@MHNK77]

@@elseby care to elaborate?

[@Immortal..]

I just need to log into Amazon to see that even one of the worlds biggest companies with sheer endless data fails to increase my spending. No matter how many targeted ads I see I wont buy stuff I dont need. And I dont need a lot.

[@grassgeese3916]

I am so impressed by your editing/editing team. Yall include important headlines, clear and demonstrative graphs, and you even provide the corporate lies from their own mouths! It's very important for the audience's comprehension, to understand that they are being actively lied to. Keep up the great work! new subscriber!

[@me0101001000]

I work with AI quite a bit in my work. More specifically, machine learning algorithms for material discovery and simulation. Doing actual AI work is computationally expensive, and can takes many many trials to get right. AI in itself is a very old technology from the 60s, and is really nothing special. Marketing has turned it into something it isn't, and gives investors the wrong impression of what it can do. You need lots of high quality data to train any ML algorithm. And the reality is that there is way too much data that is just pure junk to produce algorithms for most purposes. Case in point, GPTs are terrible at managing serious cases in medicine, law, and scientific research. They get fundamental facts wrong, ignore crucial concepts, and reach conclusions that are hilariously false. Much more work needs to be done before these algorithms are publicly available. But we've jumped the gun.

[@WhatWillYouFind]

Part of the reason they get those fundamentals wrong is its' own rabbit hole. You would be shocked at how much of the sciences have been polluted by capital investment and the MAFIA ring that the journals themselves are. Education as a for-profit venture has caused immense harm to us all, its just hidden beneath the veil.

[@jeltoninc.8542]

By “algorithms” you mean people in India on the other side of the computer, don’t you?

[@mathiso01]

Once companies are created that build specialized AI. AI focused on specific industries it will change the world.

[@dhanushsuresh7741]

@@jeltoninc.8542 lol a guy who does not have any idea about tech commenting about tech

[@bookofthewarsofthelord9273]

Why shouldnt they be publicly available? Despite any issues that can come up people are responsible for what theyre consuming. I use chatgpt to assist in coding but only to an extent. Its not always right of course but it sometimes has great ideas on how to solve an issue.

[@Nohandleentered]

I think every business should adopt an "is this bullshit" officer position on their senior management team. Job description: everytime someone pitches a new tech solution that no one here really understands the ITBO must write a detailed report about how the proposed whatever is kind of bullshit

[@Knowledge_Nuggies]

Have you ever worked in a large corporation? What you are describing is the most common senior manager position...

[@DrKosmos]

You need a better name for the position, something like: Strategy Implementation Officer. It's the fancy way of saying "How does this shit fit in here" guy

[@longtermgains8253]

All you got to do is ride the wave! The VCs always lose. From shipping drones, to crypto, to NFTs, to AI

[@sp123]

The problem is that novel ideas build hype and improve company evaluations. If every company implements AI but Google, then Google's stock prices drop.

[@yunleung2631]

That's the job of the CEO/the consultants they hire. The reality is, even if a position like this literally existed, much like the way a court jester may have told his king about truths that he would rather ignore, they will inevitably be swept up in politics. The reality of whether something is a good idea or not matters less than who's proposing it. If they got in the way of a major initiative of someone influential enough, that person will likely force some kind of drama to play out and kick the "Chief Bullshit Officer" out. There's no solution within the framework of current corporate governance to solve this issue IMO.

[@AdaptableAutonomousHouse]

In my opinion, term MARKET is opposite of term INTELLECT. Intellect requires transparency. Market thrives on obscurity and obfuscation after stopping paying dividends

[@Photoshop729]

Spotify has introduced me to many new songs and bands but then I find myself at a coffee shop and hear those exact songs playing there as well. Some of these songs are several years old. That’s the extent of what AI can do in my mind - find 100 or so overlooked songs from the past and feed it to the appropriate segments. It’s not a business it’s just a feature like any other feature.

[@smashwombel]

Keep in mind that whether or not big data is actually useful for a company is not something you can publicly verify. Corporations use big data to analyze their customer base and recommend products to them to hopefully persuade them to buy. The impact of that is already hard to estimate internally, for outsiders it's downright impossible. It's similar to estimating the impact of advertisement, which can also be tricky.

[@kangaroomax8198]

In some cases its pretty easy to estimate internally. Amazon's recommendation algorithm is driven by data, Uber's route planning, Facebook's newsfeed, Netflix's recommendation system, Google's search algorithm...all of these are based on AI and big data. To argue that it's not effective is ridiculous. What's not effective is attempting to layer data and AI on top of a flawed business model, particularly one that only really survived in a 0 interest rate environment and has no hope of profitability. That's not an indictment of AI or big data, but of companies that raise money on hype.

[@plaidchuck]

@@kangaroomax8198 Ding ding ding this is the right answer. Surprised that an "MBA" channel didn't point that out but I guess it doesn't get as many clicks as "unga bunga ai bad big tech bad"

[@MrEdes7]

​@@plaidchuckOf course an MBA wants to sell you the idea that you can make business decisions on intuition alone, it's the only value they bring to a company.

[@FilipCordas]

@@kangaroomax8198 But how do you measure the increase in sales from the recommendations?

[@AlysterDrake]

@@kangaroomax8198 to be honest i do believe in data and AI however i believe it will not be able to do what it promised to do. i think humans will probably still work and it will just become advanced tools.

[@datapool4426]

All this video has done is show that big data doesn’t magically solve broken business models. Big data is still extremely useful. The big data explosion didn’t only benefit “founders”. It made data analysis much more accessible for companies of all sizes as data engineering tools became cheaper and more accessible. Also AI is not just a hoax. Maybe Artificial general intelligence is a meme, but machine learning is extremely valuable TODAY for many companies and government agencies.

[@hmwith]

Software engineer here. 100% agree.

[@Calogero-C1975]

This is just clickbait video, even if I recognize there a lot of work underneath. You shouldn’t debunk the ai by talking about big data… It doesn’t require a bachelor to understand ai is a different beast… personally, I already implemented a couple of use case with great success… and they are getting better as the models improve…

[@huveja9799]

Big data and machine learning are an example of a symbiosis that creates a powerful tool, no one denies that. The problem is the bubble that is created by the hype around that tool, and the unscrupulous use of this tool by the same companies that promote them (for example, their use to capture our attention, making us waste uncountable hours in an endless and purposeless scroll in order to sell us more things we don't need) ..

[@aaabbbccc176]

@@huveja9799 Very well said. A big thumb up!

[@Delmworks]

To be honest, I think the irony of it is that it’s not useful for big tech. Medicine in particular is benefiting from data models and AI but all social media giants use it for is to flub their market research

[@cougar2013]

It’s worth mentioning that while ALL of the promise of “Big Data” didn’t materialize, SOME of it did. It’s not like suddenly large corporations don’t have data and analytics problems.

[@lionelplummer]

As a landscape architecture professor I slowly began to realize that my best lectures happened when I simply put chalk on a blackboard to create symbols that helped me transmit the limited but rich information I knew from experience. Today, remembering how I fumbled around with laptops, slides, videos, inevitable cable breakdowns or 10 minute updates is not only embarrassing but a technique I feel ashamed of. Today I feel, if you can’t explain something over a cup of coffee, a sketchbook and a pencil, you probably don’t understand it.

[@JoeJoe-lq6bd]

I've worked at a couple of the companies you discussed. They collect a lot of data but the analyses tend to be either superficial and uninteresting or fabricated/relying on questionable assumptions. Most big decisions I've see are "finger to the wind" but they say "data" because that makes it seem more impressive.

[@juanritanjaya6254]

Dont blame the trend, blame the snake oil salesmen who only cares about valuations…

[@KevinJDildonik]

When the "trend" is pushed by media who profit handsomely... They're inseparable.

[@VisionCapitalist]

Wall Street and Silicon Valley

[@Travolta12e]

This. AI/ML as a technology works; I mean, I found this video via YT's recommendation, which is a proof that their recommendation system works. The technical people involved (software engineers, data scientists) are doing their job. Now, companies not making money off this new technology falls on the executives and businessmen, who are clearly not doing their job. Which makes the entire premise of this video (a guy that calls himself Modern MBA saying that AI is a hoax) ironic.

[@bugostare]

What about the masses of people who will follow the blind off a cliff before they would ever admit they were totally wrong, like @Travolta12e, above my comment? They're just as guilty if not more so, just not as charismatic, which is why they're attracted to snake-oil salesmen like a moth into a flame and will defend their irrational decisions any way they can. ANYTHING but admitting fault.

[@JHZech]

@@Travolta12e This video isn't saying that none of the tech works. It's that billions are being poured into this tech but the fundamental business value seems to be missing. Saying Chat GPT works is half true, but so what? How is the money it costs to develop and run this AI being justified in actual business results? Silicon Valley has been doing a lot of innovation for its own sake.

[@JohnGotts]

As a computer programmer that has since the 1980's seen dozens of fads come and go I completely agree. We programmers will continue to do all the work and the talking heads will chatter about whatever their latest misunderstanding about technology is. Some fads are incorporated into day-to-day programming work but most just fade away into oblivion.

[@jamesdugalais5653]

You nailed it perfectly. As a developer, it s really difficult to not play this game. Cloud platform owners transform software in a monopoly where they define all the rules for their own profits. They own the machines, the computing power, the tooling and services, the stores, and often the data. They obviously win this game, it s nearly impossible to innovate outside the scope they define. Corporations have never been so powerful. We are going to the opposite promises of the beginning of personnal computer era and dev. It s sad, i thought it would be different than other big industries evolution but it s not.

[@smashwombel]

Regarding big data, it's not so much that it provides so much benefit, it's just mostly required now for any medium sized tech company. Imagine youtube, netflix or google without sophisticated recommendation algorithms, that's big data in action. It's just that very few companies actually have such a strong relationship with their customers that they would need something like that.

[@SmileyEmoji42]

There are millions of delusional companies that think they have big data because they have a 1Gb Excel spreadsheet. I'm not kidding. Similarly there are going to be millions of companies that think they are doing AI because they asked ChatGPT something 🤯

[@mosesnyper]

Agree, small companies don't necessarily need big data to achieve the same goals

[@mondodimotori]

And this moronic video claims Big Data was lost and forgotten.

[@eb_z0694]

I work for an off highway equipment manufacturer. I remember in 2019 a new ceo came in and suddenly he said we were a technology company and data was going to take us into the future. Interesting.

[@RichardPhillipsDJ]

Putting this into historical perspective, it's worth considering Amara's Law, that the impact of new technologies is overstated in the short term and understated in the long term. Similarly, the lack of productivity gains visible from big data today is analogous to that visible from the expansion of computers noted by Robert Solow in 1987. Most likely those gains only come quite some time after the initial investments, when new revenue streams outstrip the initial overenthusiastic and inefficient investments, and when cost savings come from optimising processes to use new technologies efficiently. This takes decades, perhaps a generation or more. It's also worth noting that gen AI is built on big data, so more a development of it than its replacement.

[@ThePhoEater]

Am I the only one that felt the odd editing?

[@The_Real_Tone]

Yea the timing on delivery is odd and multiple duplicate names back to back were jarring

[@LikaLaruku]

Yes, Yes. It was ironically a mistake made by AI.

[@ThePhoEater]

@@LikaLaruku How did you come to that conclusion?

[@IneptVirus]

So many examples of various things, drags on for ages. *Lists 15 examples over 5 mins* "These are just a few" A few???

[@corkmans8846]

The only story I see actually being told here is that the quantity of data was the issue for startups. Now the large corporations are actually leveraging it, and executing on it by screwing consumers in the most small ways they can.

[@numericalcode]

AI IS Big Data

[@KevinJDildonik]

This. And what happens if the data is garbage, or not actionable? One way to think of it - does the Netflix or KZbin algorithm really push videos you want to see? Or mostly complete garbage? AI has gotten much better at addiction. And not much esle.

[@PXAbstraction]

Yep, same crap, different pile.

[@VisionCapitalist]

It's more like BIG KNOWLEDGE - just now that smart yet

[@joeytmandude]

Yea wtf. He’s acting like the claims they made about big data are false but big data is absolutely changing everything about business

[@drhxa]

​@@joeytmandudeexactly, big data is essential that's why all big companies adopted it, not because it's just hype lol. The hype can last for a couple years then it dies. Big data analytics and insights have become so mainstream and commonly used that they're not even mentioned anymore because they're not a differentiator + because AI is taking the big data and creating knowledge from it

[@LloydWaldo]

I worked in tech venture capital for 10 years. What I saw was a whole crop of “world changing” concepts that one by one, failed to change anything. But at the end of that ten years we were talking about a whole new idea of what was going to change the world next. I realized all that talk never got us anywhere.

[@davidbolu2404]

finally, someone says that the whole 'ai' apocalypse stuff by CEOs of ai companies was at least, wildly overblown to raise stock prices. it really was/is a song and dance.

[@stischer47]

This is so true. Having been in AI since 1986, all the hype reminds me of the DotCom bubble of the early 2000s. Yes, AI can change things, but not everything and we still have a long way to go. We have business people who know nothing about AI besides what they read in an airline magazine and AI developers who just want to play.

[@johnl.7754]

Guess when the next recession or stagflation hits and budgets becomes tighter then will see which services actually add value

[@angryparrot]

I work at one of the largest banks in my country. We're so tightly regulated that we couldn't bring in a vendor AI black box if we wanted to. The company (i.e. the c-suites and direct underlings that have sweetheart relationships with certain vendors) want AI solutions to "drive productivity". People that actually do the work know that these systems are a risk black box and will probably cost more money than they make/save.

[@ScarredBert]

I usually love your videos, but I hated how 90% of this video was just repeating similar company statements.

[@triyuga]

As a counter point, I liked the thing you hated about this vid 🤷

[@LikaLaruku]

It's almost as if an AI voice was reading off a script written in ChatGPT.

[@aymanpatel5862]

Read Fred Brook's paper "No Silver Bullet" It is old yet gold.

[@jays.3702]

Really good paper, can't believe how well it holds up even today. He even talks about AI in that paper, and all of it is spot on. Crazy how its from the 80s

[@rimlogger7697]

I wouldn't call AI or Big Data a scam but the fact that a lot of companies have fallen for Big Data marketing is because technology is always perceived to offer immediate solutions to our problems when you need to evaluate whether or not these solutions offer any value to your organization in the first place.

[@elDoober]

I think that's a fair way to put it!

[@jhacklack]

The only thing AI can do is make porn, it's a bubble.

[@KevinJDildonik]

It is a scam. One of the big revelations if you work in the industry is that Facebook targeting is lies. They claim they can do stuff like target specifically 35 yo white males in Alabama. When you look at the results, oddly, they're 80% from a clickfarm in Thailand or wherever. If you target white women in New York, the results are Thailand. Target people in Thailand, you accidentally get the clickfarm in China. Big data, as most people perceive it, is all smoke and mirrors. (True big data, like climate modeling, isn't what anyone is referring to.)

[@obfuscateidentity2329]

It's a scam

[@UnlessRoundIsFunny]

@@obfuscateidentity2329 Yes. It a scam. I’m a lawyer and our firm is beset by vendors claiming to sell AI solutions for legal services. We have yet to see a single one offering any functionality that hasn’t existed in the legal software space for years. They are all just refined versions of the cut and paste algorithms that Word, Adobe, etc. have been using for the last two decades. Seriously. I cannot tell you how underwhelming “AI Solutions” have actually been, compared to the pie in the sky promises in the vapid white papers of marketingspeak these companies use (all of which are basically the same-there isn’t a single original thought in any of them).

[@user-sy6uq5cq6l]

The ads I’m getting on this video blend in waaaay too well with your clips 😂

[@wmlindley]

Garbage in, garbage out - but AI is "we don't need any stinkin' data to come up with the right answers!" Perfect example, allegedly "self-driving" cars... it is impossible for a computer to calculate how to manage in snow, construction zones, emergency situations, or almost anything that can happen, simply because not enough data can be collected in any useful way. Regardless of any algorithm: No data, no answers.

[@kenaj30]

I love Boeing exec talking about ways to use data, while in fact they did everything possible to ignore said data.

[@youtuber9758]

As someone who works in tech and sell AI solutions, I can attest to this. AI will be responsible for the largest human exploitation experiment in history.

[@angryparrot]

​@@SamuelMM_MitosisSam Altman? Is that you?

[@SamuelMM_Mitosis]

@@angryparrot do I look like Sam Altman?

[@AKK5I]

​@@SamuelMM_Mitosisno, but you look like a sociopathic grifter

[@SamuelMM_Mitosis]

@@AKK5I the industrial revolution had a lot of skepticism as well, but ended up great for humanity.

[@Lisekplhehe]

@@SamuelMM_Mitosis Why would AI benefit humanity as a whole?

[@creativestudiesagency]

Dell stock dropped 33% after just saying AI, AI, AI for three straight months and then investors realizing they couldn’t show any revenue for their products. Money talks, BS walks.

[@AlfredNutile]

As a developer utilizing local open-source models, you can achieve remarkable results. While there’s considerable hype around these technologies at higher levels, they offer significant benefits for small companies. For example, you can automate email reporting, create interactive documents via chat, generate translations for small websites, and much more. Thanks for the video!

[@rsybing]

Got to love the juxtaposition between the slick, keyword-laden voices of the Silicon Valley prophets with the straight-to-the-point narrator's voice of Modern MBA

[@nodrance]

This is a great video, but i noticed a few things that could be improved: - The section around 8:35 feels too long, it feels like you're tying to hit a word count by listing out each company in detail instead of preserving video flow by making each example short and to the point - editing mistake at 18:15 - The section at 18:15 has poor transitions, you could say something like "next, let's look at wayfair", rather than reading out the "wayfair" title card on your essay. This is written like an essay you read out, not like a video essay. There's a subtle difference but you can feel it. Look at wendover productions or real life lore for a point of comparison.

[@korayem]

"Not every Innovation can be monetized and not every promising technology needs to be a business"

[@arguewithatree4921]

I'm a dishrag developer in a big non-tech company. The last 10 years have just been failed buzz word after failed buzz word. I just laugh and thank the plant workers for their service. I was in a CEO company meeting; He mentioned AI, I laughed and left the meeting. We are millions in on stupid.

[@JuanNacho-ql6np]

I think itll be more like the internet where most companies fail and pushed too hard too early but the stuff that comes out of it will be revolutional.

[@bornach]

The stuff that comes out from the AI bubble bursting will fall far short of what AI startups promised their investors. It certainly won't be AGI

[@and_I_am_Life_the_fixer_of_all]

@@bornach your comment reminds me of the people that said the internet was just a fad..

[@flyerton99]

@@and_I_am_Life_the_fixer_of_all The problem with that comparison is that many, many other technologies OTHER than the internet have been trialed and failed during the same period at the internet.

[@lucarampazzo1]

There is a logical error which is undermining the entire reasoning: big data created AI, which is vital to make the data work.

[@wendysmemer8829]

Yup, also he compared the margins for companies before and after they adopted the technology and pointed out how they haven't improved. This completely ignores the fact that all of their competitors also implemented the same technologies at the same time, so you wouldn't expect margins to improve, but the cost of products to fall or increased headcount at the companies.

[@theman4821]

That isn't the point he is making. All these tech companies were using "big data" as a catch all term to justify their existence to investors. In reality, it was absolutely irrelevant, and was merely just propping up all these failing tech startups. Just collecting Data, and having it doesn't do anything if your business isn't oriented to capitalize on using the Data. The only companies that benefited from all the Data being collected are the companies that were built to manipulate and deploy big data. AI is much the same. Companies that have no business offering AI products are all evangelizing how important it is to implement. The only companies that will truly benefit from AI are the ones that will sell the tools to all these tech companies.

[@damnkris]

@@theman4821 That's obviously incorrect, AI has the potential to eventually replace a ton of employees, leading to increased company profits.

[@MultiHeheboy]

His point still stands, even if big data created AI, it still useless to companies and consumers. Of course it could generate unoriginal images, change our voices? Most use case it has is for Indian scammers for now.

[@bunnerkins]

@@damnkris can you break down the modal equation you used to falsify a statement using a future conditional? This is the logic thread after all. On that note @lucarampacco1 can you hit me with the propositions my dude, because I ain't seeing it.

[@kaizen5023]

What's funny is, we can tell you used a tool with AI to edit this video because of the stuttering/repeating at the beginning of some headlines.

[@michaelk6472]

To me, it seems the most of the value of tech startups come from being different enough from existing systems to skirt government regulations while still proving the same service. Uber not technically employing their drivers, AirBnB not needing to pay hotel permits. It makes the fact that they somehow still manage to be unprofitable kind of wild.

[@issamelarmi]

AI is just the latest grift in a long list of grifts, aimed at investors Nvidia made bank 🤣🤣🤣

[@Jana-se4kv]

Eh. This is all more of a critique of media and marketing than it is a critque of tech. The industry is moving forward and all the technologies are built on top of each other. They're not gone just because media stops talking about it. I mean ChatGPT is literally an SaaS product built with big data. How is that an argument for AI just being a new fad when it's built on top of the other technologies.

[@donkeykonguk]

Outstanding critique. Having worked at more than one of the companies mentioned, I unfortunately can confirm that this is mainly a shell game, similar to a bunch of kids pretending to be running a grocery store, but doing far more damage and with much less intelligence or charm. As a user experience designer, I've been grilled at how 'customer obsessed' I was, but then told that there was no reason for any of us to talk to any customers or users. I've worked at 'data-driven' places that kept no data on their operations. Often, these companies hire talented people - not to make useful products, but to have them create digital potemkin villages that will hopefully get a little more money from investors, while remaining clueless about real value creation (let alone ethics) Thank you for mentioning how this also hurts employees. One of the worst parts of being a manager in these places is seeing the confusion, anger, and disillusionment among my reports. As the Italian proverb says, "If you can't find the reason for something, the reason is money." Your video cuts through the hype and shows that much of tech is a scam.

[@grapeape780]

25:14 LOL, I just threw away a packet of mayo that came with my "samwich", because it had a Unilever logo on it.

[@Ashinle]

I really like the bringing topics down to Earth feel of your videos

[@defyslowmotion1]

I think the companies that made big data work the the ones you’ll never hear from. They are not data companies or startups that need to promote their actions in order to raise money. Rather they’re companies that make money through some other primary means and their use of data gives them an edge that they don’t need to share too much about publicly. One example might be casinos and their use of data to increase the play time and bet size of players. They don’t need to advertise this heavily but we all know casinos collect and use their data. I think the same will be true for AI. Companies making the LLMs will eventually be making commodity products. The next tier of value (beyond infrastructure) will be from the business created on top of the LLM and there will be many public failures. But there will be companies that never talk about their use of LLMs and machine learning who were able to integrate it and move hundreds of millions of dollars down to the bottom line.

[@kangaroomax8198]

Not even. Google's search algo is big data, Amazon's recommender algorithm is too, KZbin's algo is big data, Netflix, anything making suggestions...it's kind of silly.

[@hamzix6599]

@@kangaroomax8198 the video showed also example of many buissness that used "suggestions' to recommend their products yet they failed. what i understood from this video is that business should not follow tech hype traines and implement tech to just look "cool" but to implement it when the business really needs it.

[@FilipCordas]

Are they really? Exploiting degenerate gamblers is not something that requires smart decision making, what it requires is lack of morals and money to pay off politicians to stop small competition.

[@kangaroomax8198]

@@hamzix6599 Tech and data can't save a bad business. The lesson here is that some businesses are poorly run and unprofitable, not that there's anything wrong with big data or AI.

[@hamzix6599]

@@kangaroomax8198 and thats what i am saying don't have tech to look cool but to target specific issues that tech can really solve

[@25usd94]

“Not every innovation can be monetized, and not every emerging technology needs to be a business.” A very nice takeaway. It’s alarming how cooked my bosses all the way up the chain are with the magical thinking that AI stuff has let them embrace

[@triadwarfare]

On the thumbnail, I think what's more suitable on the list are "Cloud Computing" and "Blockchain" as they've been trends right before AI.

[@michaelli7517]

Was this video rushed? There seems to be many editing mistakes, such as repeating words or very fast cuts.

[@wendysmemer8829]

ngl thats a lot of his videos, there's always some random audio cuts for some reason

[@xKarenWalkerx]

He also doesn't say thank you for watching. He's all about views and money. He won't last. I just unsubbed.

[@theslicerofbread481]

​@@xKarenWalkerx not that I approve an unfinished product, but are you here editing or information? That's the way I evaluate things.

[@paulblichmann2791]

He probably USED AI lol.

[@vitoc8454]

Also the title is misleading. The video says very little about AI in Silicon Valley, and focused on Big Data. Over 30 minutes of buildup to a ~ 5-minute rushed conclusion where he goes, "and AI is basically doing the same thing"

[@ecognitio9605]

Modern MBA you've got to do a vid on cinemas and the movie business, this has been the worse year in terms of ticket sales since the 1970's and only 5 movies have made a profit this year.

[@notaspectator]

Somehow a lot of techies including myself thought they are re-inventing, yet rarely asking why a few times and if arrogance is what drives us.

[@anteep4900]

As someone who uses it extensively for work unlike the video author, I can tell you it definitely isn't a hoax.

[@larrydugan1441]

The stock market is about hype. Which I believe is your point. Snake oil has been with us for a very long time it just went from concoctions of alcohol to 1s and 0s.

[@gmllama]

A part of me thinks that stagnation over the years can be ascribed to rising big data tides lifting all ships -- if everyone invested in it and nobody gained a huge competitive advantage, everyone's spending enough $ on tech that's the new norm and things sort've just equal out. It'd be interesting to see if there are any comparable companies to those examined that didn't invest in big data -- did they go extinct? Did they see more profit due to not having to spend on tech? Seeing the examples of revenues increasing precipitously while operating income plummets seems to be telling of something else. It could be due in part to profligate spending on big data and other tech, but It's almost as if wealth extraction is the goal and not long term sustained profit. Why work hard and create a business that works when you can expend much less time and effort and still be rewarding for getting a bunch of capital and running things into the ground?

[@tonytins]

I've been following AI back when "machine learning" was still more commonly phrase and used the varies tools in side projects to create varies prediction algorithms. Which is exactly what GPT is. It is nothing more than a glorified autocorrect. The technology is cool, no gonna deny that, but no matter how big you increase its memory and context, it still has no idea what it is saying. AI in games is far simpler and easier to understand, making it more sophisticated in its design.

[@raybod1775]

AI is automated statistical search, but it’s amazing what AI can find. There aren’t enough humans on Earth that can run through trillions of comparisons like in the game Go.

[@tonytins]

@@raybod1775 The AI that played Go is an entirely different form from the chatbots we're getting today.

[@illarionbykov7401]

​@@tonytins "entirely different form" is a stretch, IMO. All current top AI go software packages are based on deep learning neural networks with some extra add-ons. The bigger the net, the better the performance. LLMs are also learning to play games like go and chess as unintended "emergent behavior" simply from encountering a lot of go and chess content in their training data, and the bigger the net, the better they (LLMs) play those games.

[@tomassmoleja4086]

@@raybod1775 Do you know, that best GO player is still man with name Kellin Pelrine? They used another "AI" program (the irony) and run many simulation and come with strategy, which mid-level player will always beat AlfaGO (tested with many Ai programs). Missing component is context.

[@onemorechris]

selling analytics tools to start ups is the modern version of selling spades to gold prospectors

[@Iam_inevitabIe]

4:16 Dude the 100 clips at the beginning made me almost log off

[@firehawk128]

I've always felt this way but it's startling to see it all laid out like this with all the failed businesses and their PR talking points.

[@kb3936]

Good video, but whats going on with the audio editing? There's persistent skipping like at 20:52

[@sunken_lilies]

i was listening to this in the background and watched a whole 7 minute ad for some innovation company because i thought it was being quoted as part of the video 💀

[@toCatchAnAI]

There certainly is overselling happening in this new industry, like any other tech. Just like the internet boom, AI will be sold and oversold, hyped and overhyped. However, internet has far surpassed its value that its critics has predicted and still is giving. With AI, you have to dive into the actual tech before actually believing if the hype is true, market conditions and historical comparisons isn't enough to deduce a conclusion. AI is true and is a technology that is going to stay no matter what the market conditions and overselling happening around it. Just don't get carried away or you'll get cooked.

[@incremental_failure]

Exactly. I'm not a data scientist but have built basic ML models and it's very eye opening. Calling it all pure hype is simply not understanding it at all. In many cases prediction is easy but the features are not necessarily obvious - the business benefits are massive.

[@0xszander0]

Well said. And it's strange to deny it's impact when it's impact is already huge in some fields. I know no programmer that doesn't use AI tools at some point.

[@MultiHeheboy]

@@0xszander0 Github Copilot been existed for years, it's not new thing. Now it has AI name, with nothing valuable added.

[@katarh]

AI is good when you have a specific problem you need to solve that actually requires a million monkeys at a million typewriters trying to crank out Shakespeare. When you have a task that requires creativity and design thinking, or precision that cannot be incorrect, a human is going to do it better. When you have a task that requires hundreds of thousands of repetitions - and machine learning can perform those repetitions with more accuracy and at the speed of light - the AI is going to do better. I think about things like the old SETI @ Home programs, or the Folding @ Home version for folding proteins. Those data sets had to be analyzed in tiny chunks in distributed computation models because the processing tech to handle them was too expensive for non-profit researchers to buy or rent. They had a targeted goal: does this data set have a pattern that stands out from the background noise in the case of SETI @ Home? Or for Folding @ Home, will this permutation of a protein fold in an interesting way? They weren't AI - they weren't even really rudimentary machine learning, because neither of those programs got "smarter" about the data that they were analyzing. However, they were targeted and specific, and even though SETI never did find any space signals worth investigating, just churning through that data to find the answer of "nope" was an accomplishment. That same task would have taken humans centuries. Companies are rapidly learning that you can't throw a COTS generative AI system at your database and have it magically print more money than the software cost. You've got to have a specific function where that dataset will be able to grind and put together better answers than a human data analyst, which is a tall ask. And even then, any given AI system is going to need a human babysitter.

[@MultiHeheboy]

@@katarh I can't find any example of the usefullness, instead of writing these text wall, can you give us just one or two example?

[@edennelson]

I've been a subscriber for some time, and I'd like to offer some constructive criticism. While your video content is good, the quality is affected by the editing. There is an audio ramp-up for each clip added to the timeline, which often silences the first word of each clip. In the latest video, it was especially noticeable when you listed companies in short clips, as the audio was lost completely for several moments. Additionally, there were instances where the audio repeated the same first word in several clips. I also suggest that when it comes to your writing, you limit your lists to three or four items, such as A, B, and C, or A, B, C, and D. You have a tendency to list five, six, or even seven items, which can be overwhelming for the viewers.🙏

[@NeostormXLMAX]

It seems werid that with pauses

[@chloey8278]

Thanks for pointing this out. The editing of this episode seems rushed.

[@LikaLaruku]

Yes, using AI to make a video about AI being a scam, plus the word repeating, certainly derailed my attention from the topic multiple times. I'm not saying he needs to stop using ChatGPT, but I am saying he needs to manually edit his content.

[@JUSTSAYING-dg4hu]

I think the blessing of this era is that, the beauty of real business and true grit will become undeniable...