In the News II

Quote: Evenbob

The guy who wrote the article does not understand how the word intelligence is being used here. When you take a fine piece of glass stemware and tap it and it makes a musical note the glass is said to have intelligence. A coil spring is said they have intelligence. All kinds of things have what's known as intelligence and that doesn't make them self-aware by any means. Artificial intelligence is just what it says, it's not claiming to be anything else. That article is mostly clickbait.

I thought the article was very well thought out.

He left many references.

Quote: DoubleGold

I thought the article was very well thought out.

He left many references.

He's expecting way more out of the word intelligence. Intelligence does not stand for all the things he thinks it does. The most primitive single cell organism has Intelligence. I don't know where anybody in the AI business is claiming that it's going to have human characteristics. They say that someday in the distant future it might but not now. Now it's just a robot, barely a step above the thermostat on your wall.

Zitron imagines the coming fake AI bubble crash 6 months before now:


Five Lehmans vaporized in a single day by one firm. :)

Fortunately, the value reappeared since then, but recently vaporized again, plus much more.

I figure about $5 trillion vaporized so far (globally).


Remember Cramer pushing Lehman in the low $60 range before she crashed? :)

Then they vanished.

Poof!

Over a 100 year old firm.


The scale of this AI scam is unprecedented.

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The Subprime AI Crisis

SEP 16, 2024
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The markets are extremely skeptical of the generative AI boom, and NVIDIA CEO Jensen Huang had no real answers about AI's return on investment, leading to an historic $279 billion drop in NVIDIA's market cap in a single day. This was the biggest rout in US markets history. The total value lost is the equivalent of nearly five Lehman Brothers at its peak value.
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https://www.wheresyoured.at/subprimeai/

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Quote: Evenbob

He's expecting way more out of the word intelligence. Intelligence does not stand for all the things he thinks it does. The most primitive single cell organism has Intelligence. I don't know where anybody in the AI business is claiming that it's going to have human characteristics. They say that someday in the distant future it might but not now. Now it's just a robot, barely a step above the thermostat on your wall.

We've had robots for a long time.

This is different, which is reflective of the amount of capital being invested.

Sold as snake oil.

Was at the Vegas Hands Off March. Good crowd. I'd estimate at least 1k
Met at the Statue of liberty NYNY. Marched to Treasure Island and crossed to other side of the strip and back to NYNY.
Police very respectful
They actually led the March and some road crossings had police block cars for the pedestrian crossing.

Quote: DoubleGold

Zitron imagines the coming fake AI bubble crash 6 months before now:

This is from Forbes Magazine 3 months ago.


"All of the evidence suggests AI is neither a bubble nor a con; it is a boom with lasting potential. While there is plenty of irrational exuberance related to AI, that is the free market’s way of experimenting and learning, which have always given the U.S. economy its edge. AI’s biggest winners will have solutions that address real problems and create new forms of competitive advantage, and we should be ready for those benefits to materialize in the coming years."

https://www.forbes.com/sites/johnrau/2025/01/03/is-ai-a-boom-bubble-or-con-heres-what-the-evidence-suggests/

Quote: Evenbob

This is from Forbes Magazine 3 months ago.


"All of the evidence suggests AI is neither a bubble nor a con; it is a boom with lasting potential. While there is plenty of irrational exuberance related to AI, that is the free market’s way of experimenting and learning, which have always given the U.S. economy its edge. AI’s biggest winners will have solutions that address real problems and create new forms of competitive advantage, and we should be ready for those benefits to materialize in the coming years."

https://www.forbes.com/sites/johnrau/2025/01/03/is-ai-a-boom-bubble-or-con-heres-what-the-evidence-suggests/

Retired Banking Cartel, meaning they're the issue.

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John Rau Was A Successful CEO Four Times And Now Advises Leaders

08/22/2024
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As the CEO of Exchange Bank, he sold it to ABN Bank for $450 million in 1989, 14 times the value when he took the helm a decade earlier. ABN's LaSalle Bank appointed him CEO. He stepped down as CEO in 1991. But he stayed on the North American board of ABN until Bank of America (BAC) bought LaSalle in 2007 for $23 billion.

Chicago Title hired him in 1996. At the time, the company was valued at $125 million. He took the company public in 1998. And he sold it to Fidelity National (FNF) in 2000 for a stock-cash value of $1.2 billion.

And in 2002, Chicago-based private investment holding company Miami Corp. tapped Rau as CEO. Rau, now 76, retired last year.
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https://www.investors.com/news/management/leaders-and-success/john-rau-was-a-successful-ceo-four-times-and-now-advises-leaders/

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Rau admits he doesn't know, because he asks the question in the cited title:

If he knew and didn't have a conflict of interest, he would have claimed "AI is a boom." in the title.

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Is AI A Boom, Bubble, Or Con?

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Here is where he misses the boat:

He doesn't understand what AI is, as it pertains to current technology.

He implies the technology is already here.

It's not.


"AI is a very real..."

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One thing is clear: AI is a very real and transformative technology, but scale will be integral to addressing such problems.

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What the Cartel is calling AI is not artificial intelligence.

All it can do is search enormous amounts of existing data and assign weightings.

Then infer meaning from weightings.

It's like a statistical machine assigning probabilities and does them very very very fast.



AI used in this context is a misnomer.



I referred to the "con" in a previous quote.

It's nothing less than fraud by the Cartel.

What they're selling as AI, is a very fast stat machine technology.

It's nothing close to AI.

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At its core, today's AI is incapable of comprehension, knowledge, thought, or "intelligence." This name is little more than a marketing gimmick.

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Quote:

Bull rider, 24, trampled to death in 'freak accident' at rodeo event: 'Deeply upsetting to all of us'

Bull stepped on his neck. I guess they’re calling it a “freak accident” because it’s rare. I mean if a car unexpectedly came into the arena and ran over him, to me that would be a freak accident.

Quote: rxwine

Bull stepped on his neck. I guess they’re calling it a “freak accident” because it’s rare. I mean if a car unexpectedly came into the arena and ran over him, to me that would be a freak accident.

I have little sympathy considering how they treat those bulls.

Quote: rxwine

Bull stepped on his neck. I guess they’re calling it a “freak accident” because it’s rare. I mean if a car unexpectedly came into the arena and ran over him, to me that would be a freak accident.

I agree with you and am surprised that is rare.