I feel like it’s overestimating how good this is because post-hoc investments are so easy compared to forward-looking ones? My guess is that there was a market failure because investors were not informed about AI enough, but the market failure was smaller than 40x in 4 years. Even given AGI views, it’s hard to know where to invest. I have heard stories of AGI-bullish people making terrible predictions about which publicly traded companies had the most growth in the last 4 years.
I don’t have a strong take on what the reasonable expected gains would have been, they could have been high enough that the argument still mostly works.
I feel like it’s overestimating how good this is because post-hoc investments are so easy compared to forward-looking ones? My guess is that there was a market failure because investors were not informed about AI enough, but the market failure was smaller than 40x in 4 years. Even given AGI views, it’s hard to know where to invest. I have heard stories of AGI-bullish people making terrible predictions about which publicly traded companies had the most growth in the last 4 years.
I don’t have a strong take on what the reasonable expected gains would have been, they could have been high enough that the argument still mostly works.