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this post was submitted on 14 Jul 2024
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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That seems suspiciously soon, but my impression is based on nothing but vibes — a sense that companies are still buying in.
Ed Zitron says it'll burn by end of the year, but he doesn't list sources either so idk
We were asking around AI industry peons in March and they all guessed around three quarters too. I woulda put it at maybe two years myself, but I was surprised at so many people all arriving at around three quarters. OTOH, I would say that just in the past few months things are really obviously heading for a trauma.
Put me down for "doesn't think it will end." Did crypto end?
crypto's VC investment fell off a cliff after the crash, and that investment is what we were talking about there
hence their pivot to AI
Oh, OK. I think all the VC-adjacent people still really believe in crypto, if it helps. They probably also don't believe in it, depending on the room. I think it will come back.
they've stopped putting fresh money in, but they believe fervently in the massive bags they're holding