Yet another study pointing in the same direction
By Gary Marcus — via Substack
Greetings from New Delhi.
In an emailed newsletter, Laura Bratton at The Information has reported on a new study (direct link not available):
Anybody remember back in early 2023, when people imagined that ChatGPT was going to 10x every employee’s productivity and radically boost the GDP’s of entire countries?
So far, there’s zero evidence of anything like that happening at scale.
The juxtaposition between the minimal documentable ROI and the trillions of dollars invested in this technology remains perverse and often baffling.
P.S. In other news, early generative AI darling Character.AI has filed for bankruptcy, and Coreweave bonds have reached 15%, suggesting that credit markets have had enough.
$CRWV bonds blow up to 15.1% in a day as company faces existential bankruptcy risks.
$CRWV bonds break 14%, hitting a high of 14.15% today.
Bonds begin appearing in CCC CLOs; likely have credit downgrade incoming to CCC
— Roger (@rdd147)
— Roger (@rdd147) · on X
P.P.S. This is insane.
.