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this post was submitted on 10 Oct 2024
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I really hope some rich people lose a ton of money when the hype settles
They wont, it's the normal people who'll lose the rich people money.
:( :(
Regular people will lose a bunch of jobs in the process, as they try to replace workers with AI. Then as the AI inevitably fucks up, the companies that fix this will start to fail, and no longer be in a position to hire new human employees to fix the problem. So unemployment will go up, and only the large monopolies or oligarchies will be able to recover. So overall, this is going to suck.
It feels a little dot com boom 2.0
It feels exactly that. (Even down to the reliance on massive purchasing of new hardware.) but the effects will be much more widespread, as it won’t just be geographically in some tech areas, since this will touch a bunch of non-tech jobs.
So, is nvidia the cisco of this cycle?
Yup
Edit: or the Sun Microsystems