Everything Is "AI" When In An "AI" Bubble
Fed Chair Powell was Dr. Yes when he needed to be Dr. No.
Does PLTR have proprietary ML capability? Yes. Is PLTR a leading LLM builder? No.
PLTR is part Information Services / Analytics company, part Data Integration company and part Software company. Yet it is getting credit as if it were about to displace OpenAI or Google on the LLM front. This is the danger when all things are labeled “AI”. Few know the difference between ML, NLP, DL, NN and GAI. As a result, the “AI” FOMO trade turns companies such as PLTR into something they are not.
The AI bubble and all bubbles have their roots in the Fed pumping $ Trillions into the economy in 2020, 2021 and 1H 2022. The Fed is solely responsible for the AI bubble, the equity bubble, the housing bubble - you name the bubble. Fed Chair Powell wanted to be Fed Chairman more than he wanted to do what was right for the U.S. economy, the Dollar and capital markets. The noble thing to do would have been to say “no” to former Treasury Secretary Mnuchin related to the first helicopter money drop, and to have said “no” to Secretary Yellen on the second, and to have said “no” to QE as well as to the BTFP. If the word “no” was too difficult for Powell to say, he could have resigned rather than be a part of this massive debt-fueled abomination which has created record inflation and is about to topple a number of banks - unless of course we have a fiscal and monetary intervention which will further add to the debt burden while reducing the purchasing power of the Dollar.
Write your Senator and State Rep if you prefer not to pay the inflation tax or if you are concerned with the ever rising cost of living. Your Social Security Income will be cut before the fiscal budget is cut, I promise you.