Cory Doctorow on Nostr: This is a great narrative trick, because it turns losing money into a virtue. If ...

This is a great narrative trick, because it turns losing money into a virtue. If you've convinced a mark that the upside of the project is a multiple of the capital committed to it, then the more money you're losing, the better the investment seems.

So this is the first AI psychosis: the idea that we should bet the world's economy on these highly combustible GPUs and data centers with terrible unit economics and no path to break-even, much less profitability.

32/