Economics

[ysabetwordsmith]

SpaceX rejected in attempt to get listed in the S&P 500 index! Bodes ill for AI IPOs...

As you may have heard, SpaceX has filed to do an IPO (initial public offering [of stock shares]) and go on the stock market. Lots and lots of people are salivating, perhaps Leon Muskbrat most of all. They also filed with the New York Stock Exchange for a quick listing on the Standard & Poor 500 stock market index.

And they were rejected to get listed on that index.
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The AI company Anthropic has also filed for an IPO. It's sealed, so details are not much available, like what percentage of shares will be let loose. But like all AI companies, it is not profitable.


I'm glad that some people still have standards.

So much of the tech industry and AI is just ... hype. People want it to be valuable and profitable. But that doesn't actually make it so. That's before counting the fact that AI value is stolen from other people's work, not creating new worth.

Comments

[siliconshaman]

We used to call that vapourware in software circles. A lot of A.I is just that, writ large. Give it a year or two and they'll stop shoving A.I into everything. (I swear, I saw an ad for an A.I driven toilet-roll holder!!! I'm not even sure it was a joke.)

Thoughts

[ysabetwordsmith]

>> We used to call that vapourware in software circles.<<

I'm used to vapourware as products that were promised but never delivered.

>> A lot of A.I is just that, writ large. <<

I guess that fits, if you count it as claiming the finished products can do more than they actually can.

>> Give it a year or two and they'll stop shoving A.I into everything. <<

I certainly hope so. I have a suspicion that it'll look a lot like the dot.com bust.

>> (I swear, I saw an ad for an A.I driven toilet-roll holder!!! I'm not even sure it was a joke.) <<

The last thing anyone wants is an intelligent bog roll. That's just creepy.

Re: Thoughts

[wispfox]

"I'm used to vapourware as products that were promised but never delivered."

Same. Also, "filed with the New York Stock Exchange for a quick listing on the Standard & Poor 500 stock market index.

And they were rejected to get listed on that index."

GOOD.

Re: Thoughts

[ysabetwordsmith]

Index stocks have to have a high standard because of how they work. If the finance people add one that is not actually profitable, they are likely to get sued and likely to lose.