Fuck AI

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"We did it, Patrick! We made a technological breakthrough!"

A place for all those who loathe AI to discuss things, post articles, and ridicule the AI hype. Proud supporter of working people. And proud booer of SXSW 2024.

AI, in this case, refers to LLMs, GPT technology, and anything listed as "AI" meant to increase market valuations.

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Michael Burry (The Big Short) is betting against the AI Bubble (www.ctvnews.ca)

submitted 1 month ago by LoveCanada@lemmy.ca to c/fuck_ai@lemmy.world

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Burry’s fund, Scion Asset Management, disclosed on Monday that it bought puts — bets that share prices will fall — on two stars of the AI wave: Nvidia and Palantir. Scion bought roughly US$187.6 million in puts on Nvidia and $912 million in puts on Palantir, according to Securities and Exchange Commission filings.

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[–] TachyonTele@piefed.social 17 points 1 month ago (1 children)

I definitely trust Burry on this. I'm excited to see the bubble finally blow up.

[–] Voroxpete@sh.itjust.works 23 points 1 month ago (1 children)

Just keep in mind that even if Burry is right - and he's not always - he was three years early on the housing crisis. Personally, I fully agree that this is a bubble, but that doesn't mean it's going to break soon.

Markets can remain irrational longer than you can remain solvent.

[–] TachyonTele@piefed.social 14 points 1 month ago

That's good point. Thank you for the temperance.