That’s how faster horses work. If you want to sell something actually new you have to take some risk. Speculative investment is good. It’s just group-think me-too investment bandwagon bubbles that are bad. And to be clear I think the world is overinvesting in AI by a lot. The strange thing is that so thinks a lot of financial experts, but “the market can stay irrational longer than you can remain solvent” so here we are.
Inventor spends their own time and money to build a prototype
Inventor shows the product off to the world.
If it truly is a world changing invention, step 4 is “world is amazed, inventor can’t keep up with demand”. There are also frequent cases where the world goes “meh, not for me”. Now occasionally those are when an invention is ahead of its time, and years or decades later the inventor is vindicated. The other case is when the invention really isn’t good, and there simply isn’t and will never be demand for it.
Somehow, the AI bubble is built with people ignoring the feedback from people that keep saying “meh, not for me”, and the various “inventors” burning more and more of their money trying to change people’s minds. Has that ever worked?
That’s how faster horses work. If you want to sell something actually new you have to take some risk. Speculative investment is good. It’s just group-think me-too investment bandwagon bubbles that are bad. And to be clear I think the world is overinvesting in AI by a lot. The strange thing is that so thinks a lot of financial experts, but “the market can stay irrational longer than you can remain solvent” so here we are.
The way that sort of invention often works is:
If it truly is a world changing invention, step 4 is “world is amazed, inventor can’t keep up with demand”. There are also frequent cases where the world goes “meh, not for me”. Now occasionally those are when an invention is ahead of its time, and years or decades later the inventor is vindicated. The other case is when the invention really isn’t good, and there simply isn’t and will never be demand for it.
Somehow, the AI bubble is built with people ignoring the feedback from people that keep saying “meh, not for me”, and the various “inventors” burning more and more of their money trying to change people’s minds. Has that ever worked?