“It’s never been about what LLMs can actually do. It’s about the perception of AI’s potential.” Author of Where’s Your Ed At and host of the Better Offline podcast Ed Zitron joins the Tech Report’s Isaac Pound to talk about the state of circular financing in the AI bubble after Nvidia floated a $250 loan guarantee to build OpenAI a data center and another $350 loan of GPUs to put in it. Discount link for Where's Your Ed At: https://edzitronswheresyouredatghostio.outpost.pub/public/promo-subscription/o5w5z8mj9q 📩 Read Ed’s newsletter: https://wheresyoured.at 🎧 Listen to Ed’s podcast: https://betteroffline.com For more from Ed: BlueSky: @edzitron.com Twitter: @EdZitron
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Happy Zitron day!
NVidia are basically paying companies to buy their GPUs.
We will never learn anything. Every 10 years the oligarchs will churn out the new overvalued slop, siphon more wealth away from the working class, and run away from the burning buildings.
Of course Nvidia doesn't have a diverse market. They killed off their diversity by saying "screw you" to the PC gaming market that originally helped prop them up and build their market dominance.
Friday evening, sitting at the desk with a freshly cooked dinner and a 40 minute Ed Zitron rant, this is life!
They already owe Oracle 300 Billion, bills coming due for that starting next year.
That comment is the key. We are not talking about the AI technology. We are talking about the financial engineering behind the industry bubble.
Before the AI bubble, I was looking forwards to Fridays because it's the end of the work week; now I can't wait for another Ed Zitron interview, the week is just TOO LONG!
"Perception". A great one word definition of all this chaos.
A $350 billion loan ?? insane
"somewhere between the toilet and hell" , fantastic
Circular financing is literally just fraud. Combine it with stock buybacks and nothing is really valued properly on the entire planet.
If you see a cockroach (situation awareness fund implosion), you can be sure there are more.
all Grateful Ed Heads unite
Current investments in AI are not paying off, so they want to invest even more or maintain the illusion of dynamic AI development for investors.■
AI will go down as the greatest waste of resources in human history.
"The media has failed" - Ed. Because they're not news anymore it's corporate propaganda. Any "reporter" ignoring easily verifiable bad news is just bought and paid for. It's why news media has been in steep financial decline for over a decade, the average person doesn't trust them anymore.
I see Ed, I click
Our newest Zitron Empire episode!
Eding my Zitron right now