The get-rich-quick fintech masterminds are leveraging AI companies and the tech lords to make money fast for those varati (people well versed in avarice) and shovel even more virtual money into AI companies.
Why is AI attracting so much snake oil? They already have a ludicrous circular financing game running.
Most reasoning people see a financial bubble forming in the AI space. Not a small bubble. A real big whopper of a explosive bubble.
Then Elon Musk launched a supremely overvalued IPO for whatever company he is running now. He was given permission to force it into the market that requires retirement funds to invest. Through this financial pillaging Musk has been able to blow a lot of hot air into the bubble, greatly expanding it. Mission Accomplished!
Then the avarati created an investment instrument based on the cost of AI computing. I think it is at the resolution of CPU (GPU) time. I don’t know how this would work. Do you make money when computing for AI models gets cheaper? At any rate, it is looking more and more like the Great Recession of 2007/2008 in that complex investment instruments were created to make money off of risky loans. There’s even a commodities exchange being launched that will manage the financial transactions!
The latest is an even bigger pimple of a bubble on the bubble on the bubble. Hey, if you can make money off the value of GPU compute time, why not make money off the GPU hardware itself! Jensen Huang of NVidia is pretty excited about this financial fantasy. Someone said it will be an investment class, so that sounds like something real. Isn’t imagination wonderful?
Why not make money off of the time spend daydreaming?
This is starting to look like a Marvel Universe multiverse. But, much worse.
Here is an excellent YouTube video about the latest avarati masterpiece.