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Zig quits GitHub, says Microsoft's AI obsession has ruined the service (www.theregister.com)
submitted 9 months ago by to c/technology@lemmy.world
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[–] 115 points 9 months ago (4 children)

And I am so ready for the bubble to burst.

15% of the total United States GDP is a single company. I struggle to comprehend the scale of that, but one thing is for certain; it's going to bite us in the ass eventually.

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  • [–] 135 points 9 months ago* (2 children)

    15% of the total United States GDP is a single company

    no, it is not. you struggle to comprehend it because it is not true.

    it is comparing different things. one is a valuation, the other is the value of goods and services over a year. the comparision would be with yearly revenue of a company

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  • [–] 30 points 9 months ago (1 child)

    The stat that's going around at the moment is that 30% if the GDP is transactions between the "Magnificent 7". That one is fair because it's economic activity.

    The underlying economy is in recession with the AI frosting on top pushing it to break even levels.

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  • [–] 22 points 9 months ago (1 child)

    Stock valuation of a company is not calculated int the GDP. Only domestic revenue is. There is no company that makes trillions in revenue.

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  • [–] 10 points 9 months ago (1 child)

    True, but Nvidia's market cap is still equal to 15 percent of 30.486 trillion. What's worse is that it's ALL built on speculation.

    This house of cards WILL fall.

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  • [–] 15 points 9 months ago (1 child)

    Nvidia is less speculation that the other companies mixed up in this. They at least sell physical goods which they've been shipping.

    Microsoft, Google, X, Meta - Oh boy!

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  • [–] 26 points 9 months ago*

    They haven't. Part of the reason the bubble is so bad is that NVIDIA has been giving credit incentives to openai and other llm companies. Essentially giving them money so they use it to buy NVIDIA chips, so they can claim higher sales numbers. But there's no revenue. The AI bubble is 4 or 5 companies shuffling money to each other to inflate numbers so investors inject more money.

    The only ones making bank are CEOs when they take their bonuses and cash outs. The companies themselves are bleeding. OpenAI needs something like $700 billion dollars more to survive until 2030. LLMs simply don't make any money. Any savings from ai use has been from layoffs. It will all eventually crash out when it is obvious that AI use ultimately hurts revenue, no matter how much it saves in production.

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  • [–] 1 point 9 months ago* (1 child)

    It's not one company, but the top 5 companies make up 40% of South Korea's economy, with the top 30 76.9% of their GDP. It's scary to imagine the power they wield over the peoples lives.

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  • [–] 12 points 9 months ago*

    Power over their lives? Nonsense, the people of Samsungouth Korea are completely free to use iPhones instead of Samsung phones if they want! They can also leave their Samsung apartments to work at the Samsung office, built by the Samsung construction company using Samsung heavy machinery, any time they want! If they were to get injured on the way, they'll get treated at Samsung Medical Center and not to worry, of course their Samsung insurance will cover it.

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