The parade of useless tech-in-search-of-a-problem and rampant VC yes-man-ing has basically driven the Western tech industry into the ground. It's so embarrassing. I can't allow myself to think about where that funding could have gone or else I'd lose my mind - ThreadSky

annahollinrake.com • 46 days ago

The parade of useless tech-in-search-of-a-problem and rampant VC yes-man-ing has basically driven the Western tech industry into the ground. It's so embarrassing. I can't allow myself to think about where that funding could have gone or else I'd lose my mind

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Comments

kimhu.bsky.social•46 days ago

I heard someone mentioning that the decay of the middle class and the 1% amassing more and more wealth wasn't only bad bc now the middle class has way less money, but also bad because the 1% don't spend most of their money. They want to invest and multiply, hence leading to these stupid bubbles.

crungeoneer.bsky.social•46 days ago

we missed one of those eras where the super-wealthy wanted to show off how cool they were and competed by spending tons of money

instead we have the age of dragons

annahollinrake.com•46 days ago

oh no it's popping off

if you like things made by people you can play my gay motorbike broom video game demo

https://store.steampowered.com/app/2202650/Crescent_County

yanayz.bsky.social•46 days ago

Omg this looks so much fun. Added to my wishlist. Looking forward to the release

rubberfairybea.bsky.social•46 days ago

If it helps, a lot of that money isn't real, and if they'd tried to spend it on anything real, it would have caused some kind of banking 404 error.

In a sane economy the money would never have existed because value comes from work, and weird inventors would just get a UBI to tinker.

therunepony.bsky.social•46 days ago

I worked really hard on a shit this morning. How much you gonna pay me for it?

dgoldman.bsky.social•46 days ago

Value does not come from work. Labor theory of value is a 100 year out of date economic theory. Would you continue to cite Newton over modern physics? No. So why cite outdated economic theory?

rubberfairybea.bsky.social•46 days ago

Because I'm massively oversimplifying to fit in 300 characters. Discussing physics under the same circumstances, I probably would cite Newton's laws of motion over special relativitity, yes.

dgoldman.bsky.social•46 days ago

Selecting physical theory to employ based on character limit is... a terrible idea.

jenlegirl.bsky.social•46 days ago

Can't wait for the tech crisis that will follow it

doctorcarrie.bsky.social•46 days ago

Is this why they cozy up to the government now? To go after the biggest distributor of capital since they can always make more?

hijvak792.bsky.social•46 days ago

The Constitution feels outdated to many; a relic that doesn't address the modern challenges we face. The youth's dismissal of it is a cry for change, not disrespect.

themegamagikarp.bsky.social•46 days ago

I'm curious how much the bubble will be propped up by idiots trying to get horny art and fake announcer voices being made over businesses trying to use faulty, hallucinatory LLMs. If the latter gives out, I wonder how much capital the former makes to keep them afloat.

prismatic-tiger.bsky.social•46 days ago

tHe ALgOriTHm

as if they weren't the whole premise of the computer.

vrika.bsky.social•46 days ago

The most practical use of AI is for fascist propaganda.

whytetara.bsky.social•46 days ago

“Western“ tech industry colonizer coded terminology notwithstanding
Think it was the VC and CryptoBros with egoic aspirations that squandered all that tech innovation for? AI sludge and a private space program???
Luckily they didn’t get CRISPR silver lining

tplus.games•46 days ago

The worst part is that hunger won't go away. When the bubble does burst, get ready for everything publicly traded that doesn't suck to get way worse all at once. These ghouls will want all that money back.

alanlawlor.bsky.social•46 days ago

I’ve been 35+ years in IT industry. Over that time, every innovation that gained some traction was over-hyped into the killer tech that would replace all prior tech or revolutionise the world. The reality IN EVERY CASE, was some new tool that added SOME value in SOME use-cases, but never …

alanlawlor.bsky.social•46 days ago

.. completely replaced what came before it.
However, it may still be a worthwhile investment because the greatest rewards go to those who get in early at the start of a high-growth phase and can establish themselves as a market leader

stormwyrm.org•46 days ago

As someone who has actually studied the tech of LLMs and neural networks and knows a bit of how it works under the hood it's a shame since I can see more than a few useful applications for it. Far more modest ones, not the kind to spin those insane trillion dollar valuations.

stormwyrm.org•46 days ago

It's sorta like the dot-com bubble in 1999. My hope is, just as by 2003, when the bubble pops and the hype dies down the really useful applications can then stand up. But I fear that the insane magnitude of this bubble might drive the world economy into a shambles that will take much longer to fix.

therunepony.bsky.social•46 days ago

What is the real use for something that consumes more power than a city just to produce data summaries that might not even be real?

stormwyrm.org•46 days ago

I'm thinking of the neural network algorithms in general. The same principles the techbros are misusing to make these energy wasting boondoggles can be used to do very sophisticated pattern matching that has plenty of more benign and useful applications.

coocoopuffs.bsky.social•46 days ago

That's how it's always seemed to me as a total non-expert; the stuff it's actually useful for and the way it's being sold are completely at odds.

monochromeobserver.bsky.social•46 days ago

Yeah like, the best application for LLMs chatbots is that you can find info by asking normal human questions instead of typing keywords. Something that a lot of people erroneously do with search engines. That's it. There's no intelligence behind it; it's a Chinese room situation.

monochromeobserver.bsky.social•46 days ago

It's basically an upgrade to all those previous ideas for digital assistants like Alexa or Siri, and bots in customer service. Nothing grandiose about it.

pikapies.bsky.social•46 days ago

I’m so tired. Between AI, everything going on at Twitter and now Meta, I am having one hell of an existential crisis over my line of work.

I just wanted to make fun things on and tell people about cool stuff on the internet. 🥲

alzamon.bsky.social•46 days ago

I remember vividly my first years on the internet, late 90s. It was just like that, cool, exciting and in a good vibe. All of that, gone long ago. Only networks like these and some niche initiatives attempt to keep that flame going, but for the most part it is already scorched earth 🥲

dbpublisher.bsky.social•46 days ago

SF was the most fun place on Earth back then. But… money money money. Suddenly it was greed on steroids, elect Bush because you want lower taxes, etc. It was a time… but it’s gone — as gone as The Industry Standard.

alzamon.bsky.social•46 days ago

My first international travel as an adult was precisely to SF, a web conference in 1999. For anyone working the web that was the place to be. The intensity of the impressions I had back then is a high I've kept chasing only to realize I will never relive them as they were.

vaguelysquare.bsky.social•46 days ago

I’ll always maintain that the internet was better when it was a decision you actively made to get on. You sat on the computer and decided to “go online”

Once we became connected 24/7 it was the beginning of the end for the old internet.

alzamon.bsky.social•46 days ago

We used to kvetch about modem connections being slow and expensive but in hindsight maybe that was a blessing in disguise 🥲

coocoopuffs.bsky.social•46 days ago

Went from a cool thing to explore to a habit you need to kick.

arthfach.com•46 days ago

And let me tell you, as a niche initiative person, trying to sustain it when a vast majority of people reject it as "too hard" or "pointless" is exhausting.

I just want to let people do cool shit without Big Tech surveilling everything they do. Why come at ME aggressively for that?

dashwallkick.bsky.social•46 days ago

it's so infuriating to think of how many democratic administrations let the tech industry run rampant under the guise of "they're progressive, they're nice" now that they're all saying Trump is good for the country and slurs are okay so long as you yell them

coocoopuffs.bsky.social•46 days ago

Obama letting Zuckerberg buy Instagram and Whatsapp was one of the worst regulatory decisions in history.

rjazzman323.bsky.social•46 days ago

it's turning into an MLM scan worse than what people presume that crypto is and it didn't take off years ago it's not likely to take off now. these people don't realize that throwing money at the problem isn't going to solve how the consumer looks at that technology.

eemckay.bsky.social•46 days ago

Had a pal ask "is it ethical to work for a studio that a16z funded” and like ethically no, but who wouldn't take those ghouls funding in today's infustry.

cardboardrevolution.com•46 days ago

A truly astounding waste of time and money, almost world historical levels of flop

matthewphillion.bsky.social•46 days ago

I said last year I had to get out of tech before it killed me. You said the reasons why so much better than I ever could. I got out and my mental health rebounded immensely but I still flinch whenever I see someone brag about “series blah finding” or such.

anaesthesia.bsky.social•46 days ago

Somewhat agree, but I make a decent living with VR and I make useful stuff that helps folks 🤷 so do the rest of my colleagues.

I think the VR reference was more a case of money people trying to force it into everything, as they always do.

soulscreme.bsky.social•46 days ago

Just wait til we have mission critical systems running on AI. Time to go off grid.

therunepony.bsky.social•46 days ago

And don't forget to bring dogs to detect imposters.

garoughdough.bsky.social•46 days ago

A big part of the problem for me is the evangelism of it all. Instead of presenting any of these as just another new piece of tech they feel the need to make it earth shatteringly important.

crats.bsky.social•46 days ago

I fucking LOVE VR & Meta VR made it look entirely sterile & dystopian. Meanwhile, VR Chat is just sitting there, being exceedingly gay, fun, & furry; It's more successful despite any of its other issues!

Tech bros are poison. They are freaken saddest, most aggravating creatures on the planet.

pythim.bsky.social•45 days ago

hey but you can get into a virtual workspace where remote workers can look at each other's soulless avatar eyes

crats.bsky.social•45 days ago

It's like they were trying to make the most hellish amalgamation.

"It's like work, but you need to wear this brick on your face for 8 hours and use a virtual keyboard... No, wait! It will be fun! It's like VR chat... but you can't be a fluffy animal, & no memes, & no raves, & no teledildonics..." 😆

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