On the other hand, AI is compared to the 90's ecommerce boom, with its mix of good ideas and high-risk investments. The author warns of dishonest companies, specifically calling out OpenAI, and the potential for impressive tech demos to mislead investors. The article also highlights the risk of good companies with good products being overshadowed by inferior ones.
Key takeaways:
- The author compares crypto to past financial scams such as Enron, credit default swaps, and subprime mortgages, suggesting that they were all scams from the start run by dishonest people.
- They argue that these scams could have been prevented with good independent audits, but critics were often dismissed as partisan leftists.
- AI is compared to the 90's ecommerce boom, with the author acknowledging the potential for long-term impact but warning that specific investments are high-risk.
- The author criticizes OpenAI as the most dishonest company in Silicon Valley and warns of the ease with which investors can be misled by impressive tech demos.