undefined | Better HN

0 pointsbgwalter10mo ago0 comments

Why not use the promised exponential growth of home ownership that led to the catastrophic real estate bubble that burst in 2008 as an example?

We are still dealing with the aftereffects, which led to the elimination of any working class representation in politics and suppression of real protests like Occupy Wall Street.

When this bubble bursts, the IT industry will collapse for some years like in 2000.

0 comments

michaeldoron10mo ago

The growth of home ownership was an indicator of real estate investment, not of real world capabilities - once the value of real estate dropped and the bubble burst, those investments were worth less than before, causing the crisis. In contrast, the growth in this scenario is the capabilities of foundation models (and to a lesser extent, the technologies that stem out of these capabilities). This is not a promise or an investment, it's not an indication of speculative trust in this technology, it is a non-decreasing function indicating a real increase in performance.

j / k navigate · click thread line to collapse

0 pointsbgwalter10mo ago0 comments

Why not use the promised exponential growth of home ownership that led to the catastrophic real estate bubble that burst in 2008 as an example?

We are still dealing with the aftereffects, which led to the elimination of any working class representation in politics and suppression of real protests like Occupy Wall Street.

When this bubble bursts, the IT industry will collapse for some years like in 2000.

0 comments

michaeldoron10mo ago

j / k navigate · click thread line to collapse