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Joined 2 years ago
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Cake day: June 13th, 2023

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  • I remember there being a lot of innovation in all kinds of directions. The tech looks old and crusty these days if you look back on it but at the time it was exciting, it seemed like something cool and interesting was happening every week.

    I think that’s the difference. Back then it was diverse and small companies could quickly gain market share by doing something new and different.

    The current bubble is mostly based around a disconnect between what a LLM can actually do, and the hype, VC money, and established tech giants trying to sell a vision of what it might be able to do with more time and investment. There’s little diversity in the tech this time, it’s just LLMs being stuffed into various roles, some of which have utility and many which don’t. That’s why the bubble will burst soon. For every interesting use, like summarizing code there’s an AI powered fridge nobody asked for and nobody cares about.

    The other big difference is that while the dot com bubble had the big players participating, many of which are still around today, there was potential for a startup to come along and eat their lunch. Now we just have a bunch of massive tech corporations who are out of ideas, so they’re pushing AI because that’s all they have left to hype because growth must continue at all costs, even if the average consumer couldn’t care less about ChatGPT or CoPilot.





  • It’s not just the US, it’s been happening for years in other countries like the UK as well.

    Traditionally there has been one party that is for working people and another for capital and the owner class.

    The right has been getting further and further into far right authoritarianism. That posed a problem for the Dems going back to the Clinton Presidency: do they stick with being the party of working people or do they try to have their cake and eat it by tacking to the center and assuming that the working class will continue to vote for them no matter what?

    It largely worked for a time and gave Obama two terms but ever since then they have been susceptible to criticism that they’re out of touch, elitists, entitled, and that they look down their nose at working people whilst still assuming that they will get their vote, which opened the door to Republicans.

    You can’t serve two masters for very long, you can’t be the party of working people while being run by upper middle class graduates. You can’t claim to care about the people with the least while cozying up to CEOs and megadonors. Sooner or later it all falls apart, as it did with Hillary Clinton’s run, where working people disliked her elitism and she didn’t have enough support from elsewhere to make up the shortfall. That should’ve been a warning. Instead they doubled down.

    The problem in the US is that there are only two viable parties. The Dems won’t go back to being the party of working people because they wouldn’t know how to do that even if they wanted to. What happens when the Trump Presidency turns out to be a disaster?