"OpenAI Is A Systemic Risk To The Tech Industry" [Ed Zitron]
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I'm not really an accelerationist, but I'll make an exception for this
Many ordinary people lost their jobs and homes during the Great Recession, while no one at the top was ever held individually accountable. Knowing the dynamics of the tech world, a hard crash would likely end up playing out the same way.
Isn't being a fall-man the point of Coreweave for Microsoft, NVIDIA, and everyone else using them as middle-man? They all theoretically have the ability to do the things Coreweave does in-house, but that would expose them to more risk if the bubble pops, so they have Coreweave take on the biggest part of the risk and draw in outside investor money?
they use them out of need not out of want: coreweave happened to have the silicon already because it was going to be mining crypto. and in a market where trying to get new silicon is a months-backlog problem...
Hmm, correction: the other core (the one -weave is relying on) was prepping for coinering
Coreweave is just fucked ito coming finances and wants
Oh, I had misunderstood their role in this. So they are more like someone that was already in place for other (scammey) reasons than anyone's preferred partner or middleman? And they are critical enough to be a weak link that breaks first and brings everyone else down?
yeah, their business is as hot air as the worst around, but (at least within the US) there are vanishingly few places to get lots of high-end compute and they're one of the only "free agents"
zitron's analysis about them included a bunch of details re financials and such