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Charlie Stross (cstross@wandering.shop)'s status on Monday, 29-Jul-2024 21:14:06 JST Charlie Stross

The cloud industry has a combined market cap of around $250Bn, and the stakeholders (MSFT, AMZN, AAPL, etc) have combined market caps on the order of 10% of planetary GDP, and they're locked in a multiway prisoner's dilemma game with escalating stakes.
When this bubble bursts it's potentially going to cause a global recession. Never mind all the folks whose wages have been depressed or whose jobs have gone away because management bought into the AI grifters' spiel.
https://wandering.shop/@cstross/112869289783952402
In conversation about 4 months ago from wandering.shop permalink
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  Charlie Stross (@cstross@wandering.shop)
  
  from Charlie Stross
  
  @rakslice@mastodon.social Did you see Sequoia Capital's analysis of what's going on in game-theoretic terms? Not the AI startup grifters, or the GPU manufacturers selling shovels during the gold rush, but the existential terror that's got Microsoft/Google/Amazon/Apple/Facebook and hangers-on all panicking and shovelling billions into the sector? This made sense of it to me—the missing piece of the picture. The implications are terrifying. https://www.sequoiacap.com/article/ai-optimism-vs-ai-arms-race/#

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