this post was submitted on 13 Aug 2023
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AI Is Starting to Look Like the Dot Com Bubble (futurism.com)
submitted 1 year ago by stopthatgirl7@kbin.social to c/technology@lemmy.world
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As the AI market continues to balloon, experts are warning that its VC-driven rise is eerily similar to that of the dot com bubble.

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[–] grue@lemmy.world 43 points 1 year ago (2 children)

Pro tip: when you start to see articles talking a bout how something looks like a bubble, it means it's already popped and anybody who hasn't already cashed in their investment is a bag-holder.

[–] Gsus4@feddit.nl 9 points 1 year ago* (last edited 1 year ago) (2 children)

https://en.wikipedia.org/wiki/Dot-com_bubble

Between 1990 and 1997, the **percentage of households in the United States owning computers increased from 15% to 35% as computer ownership progressed from a luxury to a necessity. This marked the shift to the Information Age, an economy based on information technology, and many new companies were founded.

At least we got something out of the dot-com bubble. What do you think are the useful remnants, if you think it's over? It still feels like the applications are in the very beginning. Not the actual tech, that's actually been performance and dataset size and tweak updates since 2012.

[–] Ondergetekende@feddit.nl 8 points 1 year ago

The AI bubble produced many useful products already, many of which will remain useful even after the bubble popped.

The term bubble is mostly about how investment money flows around. Right now you can get near infinite moneys if you include the term AI in your business plan. Many of the current startups will never produce a useful product, and after the bubble has truly popped, those who haven't will go under.

Amazon, ebay, booking and cisco survived the dotcom bubble, as they attracted paying users before the bubble ended. Things like github copilot, dalee, chat bots etc are genuinely useful products which have already attracted paying cusomers. Some of these products may end up being provided by competitors of the current providers, but someone will make long term money from these products.

[–] Ragnell@kbin.social 5 points 1 year ago

@Gsus4 We'll get a neat toy out of it and hopefully some laws around the use of that neat toy in entertainment that protect creative workers. Also we'll have learned some new things about what can be done with computers.

[–] zer0@thelemmy.club 1 points 1 year ago

Not the case for AI. We are at the beginning of a new era