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Joined 1 year ago
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Cake day: July 7th, 2023

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  • The problem is that his payout, like the rest of his fortune, is in exceedingly overvalued Tesla stock. So using that to finance Twitter means selling, and every time he sells the price takes a hard dip because Tesla investors know they’re standing on a soap bubble and they are extremely nervous about it bursting. Any sudden uptick in sales pressure is liable to cause a small avalanche of investors abandoning ship.

    The process of buying Twitter alone cut his net worth by half because of how much it cratered the Tesla stock price.






  • Yeah, I try to make this point as often as I can. The notion that AI hallucinates only wrong answers really misleads people about how these programs actually work. It couches it in terms of human failings rather than really getting at the underlying flaw in the whole concept.

    LLMs are a really interesting area of research, but they never should have made it out of the lab. The fact that they did is purely because all science operates in the service of profit now. Imagine if OpenAI were able to rely on government funding instead of having to find a product to sell.





  • Opening up to institutional investment means opening yourself up to ownership by a culture that demands infinite growth. In recent years this has gotten particularly bad; with the rise in interest rates, stocks can no longer deliver moderate growth and still be considered worthwhile investments. Everything is either a rocketship to the moon, or its a sell. Combine that with a string of US court cases that have interpreted tge law in such a way as to foster the belief that its illegal for companies to put anything ahead of shareholder value, and what you get is a top down imperative to squeeze the maximum profit out of everything. When you see Microsoft mulling over ideas like putting ads in your start menu, or EA talking about in-game advertising, this is why. When you see Spotify raising prices multiple times while crowing about how their content production costs are basically non-existent and changing their contracts so that smaller artists literally don’t get paid for their music, this is why.