The AI Fad Just Burned to the Waterline
Sometimes wide moats and billions of dollars to blow lead not to glory but to hubris, which beckons Nemesis.
While everyone was busy reassuring themselves the stock market was still A-OK, the driver of the market–the AI fad–just burned to the waterline. Yes, the current euphoric expectations for AI are a fad, the latest in the endless stream of “gotta have” status signifiers and cultural frenzies.
The core dynamic in all fads is Human Wetware 1.0. Though we glorify our individuality–The primacy of the Individual is the key characteristic of Modernity–we remain a herd animal, alert to every twitch in the herd’s emotional state and anxious to join the herd when it starts running, lest we’re left behind or lose status.
CEOs are just as prone to fads as the rest of us, and this is how the AI fad gathered momentum. A decade ago the warm-and-fuzzy tech fad that enamored every corporate HQ was fuzzy logic, one of the long line of precursors to the current AI mania. So labels touting “fuzzy logic” were slapped on rice cookers as everyone scrambled to cash in on the latest tech fad.
And so now every package of Kroika Cookies is emblazoned with “powered
Article from LewRockwell
LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
