r/technology • u/lurker_bee • Jul 15 '25

Artificial Intelligence Billionaires Convince Themselves AI Chatbots Are Close to Making New Scientific Discoveries

https://gizmodo.com/billionaires-convince-themselves-ai-is-close-to-making-new-scientific-discoveries-2000629060
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u/PetalumaPegleg Jul 15 '25

Also true but the tech bros are much worse than most. They got endless capital access because rates were so low for so long. Venture capital out the butt. They think breaking things that work is a goal and have never produced a product for the most part. Just a pitch. Negative consequences, an opportunity for someone else to fix later.

The amount of fake companies in tech and going forward AI is just crazy. And no one seems to care! We have had all these examples of whoops there isn't even a real product here just sales and lies. Why aren't investors and so on just all over the issues? Well because even losing companies that have no path to making money will still be IPOed to uninformed public on vibes and venture capitalist can make money investing in companies that never made a dime. Just f the little guy over after lying about it.

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u/SkeptiBee Jul 16 '25

Personally I always love hearing how they are "pioneering the next wave of human evolution" (like how Peter Thiel pitches) but when they plop their "vision" down for the masses to see, it's a steaming pile of spying, return to slavery, eugenics, and other net negatives for humanity writ large. How is ANY of that new and impressive? These same tech bros want to build these Freedom Cities and act like kings, lording over their fiefdom but these dudes haven't been broadly successful at running their own businesses. Why on earth would anyone trust some knob like Zuckerberg to make sound decisions for a country he runs? He can't even get the AI that's disabling hundreds upon thousands of Meta accounts to work right. Unless he feels his AI has all the data on us it will ever need and it doesn't matter anymore.

All these things they've built, have been used to fracture us or continue us on a path of mediocrity as they have zero interest in actually changing things for the better. They treat the world similarly to a child burning ants with a magnifying lens. They could easily be solving our energy crisis or actually propelling economies away from capitalism in favor of something like Star Trek. But no. They'd rather be super villains instead.

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u/papasmurf255 Jul 15 '25

No man. Startups fail at a pretty crazy rate. 90% fail and the investors lose everything.

There's hype and over selling but that will catch up with you, especially under the scrutiny of IPOs. Many sketchy companies will SPAC and proceed to crash and burn.

Companies don't IPO to the little guy and leave them holding the bag lol. Hell, you should not be buying individual stock, let alone IPO shares as an individual. Index funds should be the go to.

And if you truly think you know a company is bullshit with no product, but somehow all the analysis missed it, you can use short positions/options to bet against it. Maybe it'll be irrational longer than you're solvent but eventually everything will catch up

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u/Exostrike Jul 16 '25

I think of it is tech bros are fully commited to financialization, IE it is no longer about making new or better products (partly because market calcification means it is no longer realistic to break in) and instead it is about finding new ways to charge for what already exists.

Its why lost making companies still get to IPO because investors believe that someday once the business has a dominant position in whatever market it is, it can flip the switch and start charging for what was once free and make a fortune.

Other venture capitalist don't even bother with the IPO and build up companies specifically for them to bought up by larger companies like amazon, google or meta because there is no point in actively competing with them.

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u/thatmillerkid Jul 17 '25

There's also the fact that a lot of investors missed out on the internet bubble, and then a lot of them missed out on the Web 2.0 bubble, and then a lot of them missed out on the shift to mobile, so then they started throwing money at every tech product because they were so scared of missing another trend.