The article draws parallels between the 1967 film "The Graduate" and the current spending habits of major tech firms on artificial intelligence (AI). Unlike the iconic advice on plastics, today's firms are fixated on AI, with proposed expenditures increasing dramatically. The author notes that motivations include fear of missing out on technological advancements, an anticipated first-mover advantage for achieving artificial general intelligence (AGI), and a tendency to invest excess profits in high-risk, high-reward ventures to avoid distributing cash to shareholders. Overall, this behavior reveals a reckless pursuit in the tech industry, driven largely by profitability pressures.
The tech giants' decision to spend extravagantly on AI might stem more from fear of missing out and the desire to appear innovative than from solid business models.
Despite the current lack of a viable business model for AI, companies prefer to spend their excess profits on bold initiatives rather than returning money to shareholders.
Collection
[
|
...
]