I still see this today. Some tech company is a Fintech company the first part of the year, a metaverse enabler the second part. And an AI disruptor the next year. They say what investors want to hear. Because of the crazy VC culture the customer is the VC, the rest isn't that important. Random growth metrics that aren't sustainable etc. Maybe some people believe that business fundamentals have changed. That one doesn't need to make more than one spends. Weird.
Your newsletter is great. I also enjoy your Twitter musings. As someone who works in marketing and advertising and is trying to work with AI I feel like one of the basic truths that is missed is that we humans are analog creatures. We can try to be digital, but we aren't. If we can understand that our analog selves will have massive blindspots that AI will exploit and TRY to apply AI in productive (and not reductive) fashion, maybe this bubble will result in something positive. (Note: I'm pre-dispositioned to be optimistic and not think people are evil).
"Just because a VC bloke in SF thinks a $2000 bike is cheap, doesn’t mean anyone in the normal world can spend that much." - love this, matches what a smart friend of mine used to call "built for SF" businesses 🤣
YES! THIS! I only hope my nerves and my brain survive the AI "thing."
The problem is that it isn't really intelligence. It's just really fast computation of smart algorithms. It is not thinking; it's doing what computers were built to do: Chomp numbers and spit out conclusions/results. If it really were thinking, it would realize it isn't thinking after all. :-D
I still see this today. Some tech company is a Fintech company the first part of the year, a metaverse enabler the second part. And an AI disruptor the next year. They say what investors want to hear. Because of the crazy VC culture the customer is the VC, the rest isn't that important. Random growth metrics that aren't sustainable etc. Maybe some people believe that business fundamentals have changed. That one doesn't need to make more than one spends. Weird.
Your newsletter is great. I also enjoy your Twitter musings. As someone who works in marketing and advertising and is trying to work with AI I feel like one of the basic truths that is missed is that we humans are analog creatures. We can try to be digital, but we aren't. If we can understand that our analog selves will have massive blindspots that AI will exploit and TRY to apply AI in productive (and not reductive) fashion, maybe this bubble will result in something positive. (Note: I'm pre-dispositioned to be optimistic and not think people are evil).
"Just because a VC bloke in SF thinks a $2000 bike is cheap, doesn’t mean anyone in the normal world can spend that much." - love this, matches what a smart friend of mine used to call "built for SF" businesses 🤣
YES! THIS! I only hope my nerves and my brain survive the AI "thing."
The problem is that it isn't really intelligence. It's just really fast computation of smart algorithms. It is not thinking; it's doing what computers were built to do: Chomp numbers and spit out conclusions/results. If it really were thinking, it would realize it isn't thinking after all. :-D