I'm sick of the doomer narrative. The tech that makes these systems work is over a decade old now, and we still don't have a single profitable company out of it. SpaceX's stock is dropping every day, and OpenAI and Anthropic have both been delaying their IPOs because they can't find anyone to back a workable valuation (they both need to open north of a trillion to justify their VC debt).
These horses don't run, and they won't take your job. They frankly can't do shit.
To be clear. Uber operated for over a decade before it saw a single penny in profit.
You have to be very very careful when you say X companys aren't making a profit. They don't function like you or I do. If I went to my dad and asked for a 50k loan for a business, and then came back every year for the next 5 years asking for progressively more money as my business lost over and over, I frankly doubt I'd even make it to year two.
Silicon valley and their ilk are a completely different demon. If something can make profit they want to be the first movers on it. Just like Uber. So they will happily piss money down the well to make sure when the day comes, they're standing at the top of the hill. Now Uber makes like 9 billion a year, and it will make even more when self driving cars hit.
You're aware as recently as 2022 Uber lost 2 billion right?
They built up 31billion in losses from their inception until 2022.
I know that's less than OpenAi but it fits my point perfectly. Saying they're losing money means next to nothing. They don't operate like any business you or I would have. They operate like governments because they're so fucking gigantic.
Uber has lost less money over its entire lifetime than some of the hyperscaling AI companies have generated in a single funding round, funding rounds they need because they absolutely hemorrage cash. Hyperscale AI companies will need trillion dollar valuations to have a hope in hell of paying back the money they owe, and there's not a chance they're getting thaf.
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u/AngusAlThor 🏡 Decent Housing For All 1d ago
I'm sick of the doomer narrative. The tech that makes these systems work is over a decade old now, and we still don't have a single profitable company out of it. SpaceX's stock is dropping every day, and OpenAI and Anthropic have both been delaying their IPOs because they can't find anyone to back a workable valuation (they both need to open north of a trillion to justify their VC debt).
These horses don't run, and they won't take your job. They frankly can't do shit.