In the case of AI, knowledge workers are trying to tell us something. They don’t like AI as much the top managers do, and their excitement is falling.
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“I feel as though the financial world has lost the plot,” said Cathie Wood, CEO of Ark Invest, in last year’s star-studded COSM conference. Investors are avoiding risk and investing in safe but unpromising world of the past, said Wood, who went on to discuss the “trends and investment opportunities in technologies related to public blockchains, multiomic sequencing, energy storage, and robotics, that are tied together by advances in artificial intelligence.” Watch her intriguing talk below and let us know what you think of it in the comments! The fourth and final sequence of COSM 2023 videos have now been added to our YouTube channel, so you can enjoy a host of stimulating talks, panels, and conversations about artificial intelligence, Read More ›
Writer and cultural commentator Aaron Renn wrote recently about the dissolution of identity in the United States, contending that if we don’t know who we are, we will never know what to do. Renn writes frequently on issues facing young men in America and the challenges of living well in the secular world. He writes, The reality is that a lot of people in top positions of our society act as if they want you living like Simba. They want porn available for you to watch. They want you betting on the big game on your phone. They want you focused on “experiences” and consumption, like hitting the latest hot travel destination or going to the new farm-to-table restaurant that Read More ›
Sam Altman, the CEO of the AI company OpenAI, which was responsible for developing the Large Language Model ChatGPT, said in an interview with The Atlantic that AI will definitely be taking some jobs away, striking a blow to some AI optimists who claim that this won’t be the case. According to Business Insider, “A lot of people working on AI pretend that it’s only going to be good; it’s only going to be a supplement; no one is ever going to be replaced,” he said. “Jobs are definitely going to go away, full stop.” –ChatGPT Creator Sam Altman Says ‘Jobs Are Definitely Going to Go Away’ (businessinsider.com) While certain jobs might go the wayside, it’s possible AI could introduce Read More ›
For context, read Bartlett’s article explaining the fall of SVB here. I wanted to make a quick note about why tech bubbles tend to correspond with low interest rate environments. Interest rates essentially dictate how long someone can wait before they need to produce something of real value. In a 20% interest rate environment, it will be evident really quickly if you are failing to produce something of value. Since essentially 1/5 of your capital disappears each year, if you aren’t doing something that will generate real profits quickly, you are sunk. You can’t paper over problems with more borrowing because the cost of that borrowing is so high. Additionally, in such an environment, the payoffs for investment need to be large Read More ›
On November 10th, the COSM conference hosted a special panel on electric vehicles (EVs for short). Brian Mistele, founder and CEO of Inrix, a leading provider of traffic information, car services, and transportation analytics, moderated the discussion. Aside from Mistele, the panel included Howard Hayden, professor emeritus at the University of Connecticut and editor of The Energy Advocate, Walter Myers, Principal Manager on Azure, Microsoft’s cloud-based platform, and Tony Posawatz, an automotive industry pioneer and chief executive of Fisker Automotive. They brought a range of perspectives on the pros and cons of EVs and where the auto industry is heading. Posawatz kicked off the panel by giving a brief overview of automobile history. He said, There was electric and folks Read More ›
Will infotech and biotech erode human agency, subvert human desires, and render free-market economics obsolete? At first glance, there looks to be a wide gap between the future of AI and the destruction of democracy. Some futurists claim to have jumped that chasm. In a cheery little column published by the Atlantic, Yuval Noah Harari posits AI will ultimately destroy Read More ›