I have read @MJ DeMarco 's newsletter yesterday.
I agree with most of the points, and yes, many bullshit jobs are going to be replaced with AI.
But this whole AI thing is massively overvalued now financially.
There is a huge hype.
I have recently read that NVDA is valued now more than the whole of Nikkei index, cant confirm its truth right now.
(if true, absolutely ridiculous, hinges on so many shaky assumptions)
I am very surprised to see MJ being bullish about this and not seeing this as a bubble because he himself has experienced dot-com bubble back in the day, first hand.
Is AI going to change everything? Yes.
Is it going to happen overnight? No.
Just like internet changed everything (not overnight but over a decade or two).
In fact, I see a war in Taiwan more probable than all these AI investments stay afloat.
Before the dot-com thing, there was Google, Altavista, Yahoo.
Only Google survived and it had to refound itself at least 4-5 times over two decades.
With the smallest black swan (geopolitical events, pandemics, extremist movements etc.), the whole thing might collapse like a tower of cards.
I agree with most of the points, and yes, many bullshit jobs are going to be replaced with AI.
But this whole AI thing is massively overvalued now financially.
There is a huge hype.
I have recently read that NVDA is valued now more than the whole of Nikkei index, cant confirm its truth right now.
(if true, absolutely ridiculous, hinges on so many shaky assumptions)
I am very surprised to see MJ being bullish about this and not seeing this as a bubble because he himself has experienced dot-com bubble back in the day, first hand.
Is AI going to change everything? Yes.
Is it going to happen overnight? No.
Just like internet changed everything (not overnight but over a decade or two).
In fact, I see a war in Taiwan more probable than all these AI investments stay afloat.
Before the dot-com thing, there was Google, Altavista, Yahoo.
Only Google survived and it had to refound itself at least 4-5 times over two decades.
With the smallest black swan (geopolitical events, pandemics, extremist movements etc.), the whole thing might collapse like a tower of cards.
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