But it’s fundamentally not a classic dot-com bubble since it seems just as much about private markets as public ones.

Life as a prisoner of the neoliberal mind palace must *suck*: it's a world where every person who suffers under predatory business practices is a "consumer" who has "revealed a preference" for being screwed: pluralistic.net/2024/10/07/wat… 1/

Look forward to discussing Cory Doctorow NONCONSENSUAL BLUE TICK’s terrific new book at the Brooklyn Public Library on Thursday evening.

Jamie Dimon told Bloomberg that JPMorgan has now reached AI equilibrium. JPM spends $2 billion a year on developing artificial intelligence technology, and saves about the same amount annually. Their plan is to gain first-mover advantage by incorporating agentic AI at all levels.

As we noted previously, open protocols like MCP can work both ways -- not just the little guys but also empowering major AI companies to gobble up more context. But using the same -- in this case a single -- UI for everything seems a little flat TBH: asimovaddendum.substack.com/p/protocols-an…

Economists assume profits get eaten away to a ‘normal’ level in the long-run (the opportunity cost of capital). But John Authers data shows a clear upward trend That can be a welfare cost to society. Markets presume this will grow with AI to justify present valuations?

And it's why OpenAI should be pushed to be a public reporting company. The 2012 JOBS Act (Obama-era) made it much easier for companies to stay private & draw on private capital. These deals could be pushed to be less opaque with more public shareholder rights and SEC oversight

$META has zero net cash ( net of debt + operating leases). At the beginning of the year they had $30 billion of net cash. The cash burn is real

OpenAI has provided no evidence it has mitigated the mental health risks associated with its products other than announcing some advisors and reducing sycophancy from a high starting place. Seems premature to be declaring victory and ramping up the porn + emojis again

This is a great insight. Most people are happy with the current level of ChatGPT intelligence in the free version (conditional on willingness to pay). My mom uses ChatGPT everyday. It even gives her a weekly meal plan. But she has no desire to pay $20 a month for it.

JUST IN: U.S. Army general admits he uses ChatGPT to make "key command decisions"

A colleague just sent me these screencaps showing Uber charging a 45% surcharge (!!!) when booking with the company credit card (L) vs her personal card (R.) Same route, same time, same rider, different price. Outrageous! THIS is surveillance pricing in action!!