Consider, in support: Netflix has a $418B market cap. It is inconsistent to think that a $300B valuation for OpenAI or whatever’s in the news requires replacing tens of trillions of dollars of capital before the end of the decade.
Similarly, for people wanting to argue from the other direction, who might think a low current valuation is case-closed evidence against their success chances, consider that just a year ago the same argument would have discredited how they are valued today, and a year before that would have discredited where they were a year ago, and so forth. This holds similarly for historic busts in other companies. Investor sentiment is informational but clearly isn’t definitive, else stocks would never change rapidly.
Similarly, for people wanting to argue from the other direction, who might think a low current valuation is case-closed evidence against their success chances
To be clear: I think the investors would be wrong to think that AGI/ASI soon-ish isn’t pretty likely.
Consider, in support: Netflix has a $418B market cap. It is inconsistent to think that a $300B valuation for OpenAI or whatever’s in the news requires replacing tens of trillions of dollars of capital before the end of the decade.
Similarly, for people wanting to argue from the other direction, who might think a low current valuation is case-closed evidence against their success chances, consider that just a year ago the same argument would have discredited how they are valued today, and a year before that would have discredited where they were a year ago, and so forth. This holds similarly for historic busts in other companies. Investor sentiment is informational but clearly isn’t definitive, else stocks would never change rapidly.
To be clear: I think the investors would be wrong to think that AGI/ASI soon-ish isn’t pretty likely.