THE A.I. GOLD RUSH
Photo source: Wikipedia In January, 1848, the California Gold Rush began. Thousands of people thronged to the "Golden State" seeking their fortunes. Only a tiny fraction of them got rich. The vast majority suffered severe hardship, lost their money and were forced to abandon their efforts. It is commonly noted that the few who made money during this period did so by selling provisions to the miners: pick axes, shovels and denim wear. For the last several years the new gold rush has been Artificial Intelligence. Companies have spent vast sums of money building out AI infrastructure. Microsoft, Meta, Alphabet, and Amazon have collectively spent hundreds of billions of dollars building new data centers hoping to cash in on the presumed AI fortunes to come. This gold rush took off in 2022 when Chat GPT 4 was released. It was swiftly downloaded by millions of people hoping to u...