AI feels like a technology crack-up boom
Quote
But this feels like a sort of like a technology version of the crackup boom where
Episode 232: RF Bigot (episode page, opens in a new tab) 01:07:09 (play audio from this timestamp, opens in a new tab)
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Summary
Watching Microsoft and other giants make moves that make no sense, Dave borrows the Austrian-economics idea of the crack-up boom, where accelerating inflation makes things so expensive that cracks form and everything breaks down. AI feels like a technology version of it: the whole thing fracturing until nobody knows what they're doing anymore.
Not in the audio. 'Crack-up boom' is Ludwig von Mises's term. Dave thought it came from Human Action, but the words 'human action' fall in an Unknown cue, so no book entry was created.
Also said
Episode 232: RF Bigot (episode page, opens in a new tab) 01:07:37 (play audio from this timestamp, opens in a new tab)
The crackup boom is a term in Austrian economics coined by Ludwig von Mises characterized by hyperinflation and a flight from a collapsing currency into real assets.
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