Today we’ve got a guest who's been doing our job for decades. Andrew Orlowski is a writer who has followed the technology industry for two decades, so he’s see the hype cycle peak and trough many times.
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More on Will Page at: https://pivotaleconomics.com
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In this episode of Bubble Trouble, hosts Richard Kramer and Will Page are joined by veteran technology journalist Andrew Orlowski. They delve into the recurring market bubbles and dissect the relentless hype surrounding AI and machine learning. Orlowski discusses his track record in identifying technology bubbles and shares his skepticism about the transformative claims made about AI, comparing it to historical overhyped innovations like the metaverse and cryptocurrency. The discussion also touches on the implications of AI on productivity, labor markets, and the economy at large, highlighting the disconnect between policy elites’ expectations and real-world applications. Throughout, the panel emphasizes the broader societal impacts and the role of critical scrutiny in understanding technological advancements.
00:00 Introduction to Bubble Trouble
00:44 Part One
00:49 Meet Andrew Orlowski
01:43 The Origins of Bubble Trouble
02:06 Spotting Bubbles: Andrew's Track Record
02:39 Google's Market Manipulation
07:00 The AI Hype Cycle
12:08 AI's Economic Impact and Skepticism
19:10 The Future of AI and Technology
26:13 Debunking the Efficiency Myth in Tech Companies
26:39 The Role of AI in Financial Markets
28:10 AI Skepticism and the Hype Cycle
28:20 Part Two
29:02 The Future of Chatbots and Machine Learning
30:06 Public Skepticism vs. Elite Optimism
35:54 The Nature of Work and Productivity
42:13 The Middle Class Advantage in the Modern Workplace
45:40 The AI Bubble and Its Implications
49:01 Smoke Signals: Red Flags in the AI Industry
51:19 Conclusion and Final Thoughts
51:51 Credits
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