Post #4060673
2026-07-24 10:27 UTC
I think billionaire solipsism can account for much of the malinvestment in this obvious bubble, but I don't think it's the whole story. Rather, I think there's a whole cohort of investors who don't believe in AI, but believe that *other* people will believe in AI.
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Replies (1)
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@pluralistic@mamot.fr 2026-07-24 10:27
This is a well-established investment principle. As Keynes wrote, the point of investing isn't necessarily to pick the most beautiful contestant to win the beauty contest - it's to pick the contestant that the *other judges* will hand the crown to: https://en.wikipedia.org/wiki/Keynesian_beauty_contest 15/