The pros and cons of AI gold rush

The vibes around the AI ​​boom right now are not good, even in the tech industry, according to a long story on social media from Menlo Ventures partner Deedy Das.

Das described San Francisco as “confused right now,” as “the distribution of results is the worst I’ve ever seen.”

Using an “AI envelope calculation,” he said that there are about 10,000 people – founders and employees of companies like OpenAI, Anthropic, and Nvidia – who “have earned more than $20M in wealth,” while everyone else worries “they can work a well-paying job (but <$500k) for the rest of their lives without finding a job."

In addition, “layoffs are on the rise,” and “many software professionals feel that their life skills are no longer useful,” leading to confusion about the best career paths and “a lot of confusion about work (and its future),” Das said.

This led others to focus on X, and businessman Deva Hazarika to argue that “most people on this site” are “very lucky and can choose to be happy.”

Another user he encouraged is “the worst and worst book” in the present, “technology itself is a lottery ticket and the thing that eats you.”