And we'll know that absolutely nobody learned anything from the whole sub-prime loan scandal.
I'd hope it won't be that bad. That was catastrophic because so much debt was hidden so banks ended up not just with much heavier losses than they imagined, but also not knowing how bad their losses might be. Surely here everyone knows where their money is and how much there is.
o it'll be a pretty regular stock market crash, rather than risking a hammerblow to the whole system. And also, if enough people see it coming (it seems to be telegraphed, even by the tech industry itself), it might mean there can be a sort of "orderly climbdown" rather than a crash. But then we get this:
Google has told its employees that it must double its serving capacity every six months, and needs to have increased it by a thousand times in five years.
Without some major new technology, this is surely impossible.
Isn't this what many critics are saying? The world literally
cannot build the capacity that the AI industry wants as fast as it wants. The capital doesn't exist to pay for it, the energy doesn't exist to power it, the water doesn't exist to cool it, etc. This Google guy thus appears to be saying "We'll use magic" (with an 'any sufficiently advanced technology' sense involved).
Of course different people and parts of the tech industry might be on very different pages. One Google exec might move into caution mode whilst another is still promising the moon. Although ultimately all these companies still want investors to throw money at them, so they're hardly going to go all in on caution: try to hype getting the moon whilst on the side saying moon is impossible, so they can cover their backsides if anything blows up.
www.newsweek.com
