Join Early Retirement Today
Reply
 
Thread Tools Display Modes
After messing around with ChatGPT...
Old 02-02-2023, 11:09 AM   #1
Dryer sheet wannabe
 
Join Date: Jan 2023
Location: Waterloo
Posts: 20
After messing around with ChatGPT...

I believe AI tech is going to usher in unpreceded productivity growth. I feel the same way I did when I first found out about the internet back in 1992.

What's the best way to invest in this area? I heard Microsoft has invested heavily in OpenAI. Would they be my best bet?
padlock is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-02-2023, 12:29 PM   #2
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,518
Quote:
Originally Posted by padlock View Post
I believe AI tech is going to usher in unpreceded productivity growth. I feel the same way I did when I first found out about the internet back in 1992.

What's the best way to invest in this area? I heard Microsoft has invested heavily in OpenAI. Would they be my best bet?
OpenAI is set up as a non-profit, so it’s unlikely to list directly, at least for now. It looks like Microsoft will have privileged access, so that’s probably the best way to go.

Another option is to look for a competitive product. Alphabet and Meta will probably want to have their own AI engines.
MichaelB is offline   Reply With Quote
Old 02-02-2023, 04:00 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Jan 2017
Posts: 2,628
I'm going to sit this one out for a while. See my post in the other ChatGPT thread. Right now I'd call it a solution in search of a problem. Admittedly, a very powerful solution, and there will be applications. Just not sure yet what they might be. I can tell you it's not great at many of the things which have been touted.
CaptTom is offline   Reply With Quote
Old 02-02-2023, 04:06 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Lsbcal's Avatar
 
Join Date: May 2006
Location: west coast, hi there!
Posts: 8,797
Quote:
Originally Posted by padlock View Post
I believe AI tech is going to usher in unpreceded productivity growth. I feel the same way I did when I first found out about the internet back in 1992.

What's the best way to invest in this area? I heard Microsoft has invested heavily in OpenAI. Would they be my best bet?
What did you do on ChatGPT that impressed you?
Lsbcal is offline   Reply With Quote
Old 02-02-2023, 04:23 PM   #5
Dryer sheet wannabe
 
Join Date: Jan 2023
Location: Waterloo
Posts: 20
Quote:
Originally Posted by Lsbcal View Post
What did you do on ChatGPT that impressed you?
I got it to write several reasonably non-trivial sample software programs involving both Python code and SQL queries.

As a former software developer, I can easily see practical applications for it in the field.
padlock is offline   Reply With Quote
Old 02-02-2023, 04:43 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Lsbcal's Avatar
 
Join Date: May 2006
Location: west coast, hi there!
Posts: 8,797
Quote:
Originally Posted by padlock View Post
I got it to write several reasonably non-trivial sample software programs involving both Python code and SQL queries.

As a former software developer, I can easily see practical applications for it in the field.
Sounds like a nice application but it is very specialized. Not akin to a general purpose thing like the internet which you mentioned in the OP.

I would like to know about more use cases before I got excited enough to invest in it. Tech is fascinating but it is hard to pick pure case winners. It probably fits nicely into large company needs but will it move the needle enough?

For example, with vaccine development there was Pfizer which did OK but Moderna skyrocketed in 2020-21. Long term, who knows.
Lsbcal is offline   Reply With Quote
Old 02-02-2023, 05:13 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2012
Location: Seattle
Posts: 5,991
I, for one, welcome our chatbot overlord
Fermion is offline   Reply With Quote
Old 02-02-2023, 05:20 PM   #8
Dryer sheet wannabe
 
Join Date: Jan 2023
Location: Waterloo
Posts: 20
Quote:
Originally Posted by Lsbcal View Post
Sounds like a nice application but it is very specialized. Not akin to a general purpose thing like the internet which you mentioned in the OP.

I would like to know about more use cases before I got excited enough to invest in it. Tech is fascinating but it is hard to pick pure case winners. It probably fits nicely into large company needs but will it move the needle enough?

For example, with vaccine development there was Pfizer which did OK but Moderna skyrocketed in 2020-21. Long term, who knows.
I've also heard from colleagues who used it to help write blog posts and some marketing material. In any case, it certainly isn't my intent to try to convince anyone that it's going to be revolutionary tech. I believe it is and was just wondering what the best way to gain some investment exposure in it might be.
padlock is offline   Reply With Quote
Old 02-02-2023, 05:22 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Lsbcal's Avatar
 
Join Date: May 2006
Location: west coast, hi there!
Posts: 8,797
Quote:
Originally Posted by padlock View Post
I've also heard from colleagues who used it to help write blog posts and some marketing material. In any case, it certainly isn't my intent to try to convince anyone that it's going to be revolutionary tech. I believe it is and was just wondering what the best way to gain some investment exposure in it might be.
Padlock, I'm just curious and hence the questions. Thanks.
Lsbcal is offline   Reply With Quote
Old 02-02-2023, 06:53 PM   #10
Dryer sheet wannabe
 
Join Date: Jan 2023
Location: Waterloo
Posts: 20
Quote:
Originally Posted by Lsbcal View Post
Padlock, I'm just curious and hence the questions. Thanks.
No worries Lsbcal. Just trying to clarify my motivation for the post.
padlock is offline   Reply With Quote
Old 02-03-2023, 05:38 AM   #11
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,518
<mod note> This is a thread about investing in ChatGPT. Posts about using the tool itself were moved to an ongoing discussion about that, here https://www.early-retirement.org/for...pt-116205.html
MichaelB is offline   Reply With Quote
Old 02-03-2023, 08:27 AM   #12
Recycles dryer sheets
gromit's Avatar
 
Join Date: May 2010
Location: Knoxville
Posts: 367
Quote:
Originally Posted by MichaelB View Post
OpenAI is set up as a non-profit, so it’s unlikely to list directly, at least for now. It looks like Microsoft will have privileged access, so that’s probably the best way to go.

Another option is to look for a competitive product. Alphabet and Meta will probably want to have their own AI engines.

+1. The first to market, or even the first to have a large share of a new market is not necessarily the long term winner. For those of us old enough to remember, Wordperfect was a word processing application that at one point had a 90%+ share of the US market. Then along came Microsoft Word.
gromit is offline   Reply With Quote
Old 02-03-2023, 08:31 AM   #13
Thinks s/he gets paid by the post
GravitySucks's Avatar
 
Join Date: Feb 2014
Location: Syracuse
Posts: 3,501
Quote:
Originally Posted by gromit View Post
+1. The first to market, or even the first to have a large share of a new market is not necessarily the long term winner. For those of us old enough to remember, Wordperfect was a word processing application that at one point had a 90%+ share of the US market. Then along came Microsoft Word.


Old enough to remember WordPerfect? You to young for ElectricPencil?
Sorry, gotta get back to writing my Lotus123 macros
__________________
“No, not rich. I am a poor man with money, which is not the same thing"
GravitySucks is offline   Reply With Quote
Old 02-03-2023, 09:10 AM   #14
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,518
Quote:
Originally Posted by gromit View Post
+1. The first to market, or even the first to have a large share of a new market is not necessarily the long term winner. For those of us old enough to remember, Wordperfect was a word processing application that at one point had a 90%+ share of the US market. Then along came Microsoft Word.
Good example. VisiCalc and Lotus123 are other similar examples. Google has an event Feb 8 and appears to be preparing its own AI ChatBot announcement.
MichaelB is offline   Reply With Quote
Old 02-03-2023, 11:20 AM   #15
Full time employment: Posting here.
 
Join Date: Nov 2008
Location: Louisville
Posts: 600
Visicalc and Lotus123 are interesting examples. Visicalc was developed by a college professor. After developing the code, he went to a patent attorney and asked to get a patent on the software. The attorney correctly informed him that software could not be patented. The professor then release the spreadsheet software unprotected. That allowed Lotus and eventually Microsoft and others to issue their own version of spreadsheet software without paying royalties.

What the original patent lawyer failed to inform the professor is that while software can not be patented, it CAN be copywrited. That was a very expensive oversight for the professor.

The professor originally came up with the idea based on stories from students returning from co-ops with a particular company. That company had a long room with blackboards all down the wall. The co-ops were charged with collecting financial information about the company and entering the info into squares on the blackboards. Each square included calculations or directions with what to do the information.
Masquernom is offline   Reply With Quote
Old 02-10-2023, 09:07 AM   #16
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Location: Upstate
Posts: 2,944
Quote:
Originally Posted by Masquernom View Post
Visicalc and Lotus123 are interesting examples. Visicalc was developed by a college professor. After developing the code, he went to a patent attorney and asked to get a patent on the software. The attorney correctly informed him that software could not be patented. The professor then release the spreadsheet software unprotected. That allowed Lotus and eventually Microsoft and others to issue their own version of spreadsheet software without paying royalties.

What the original patent lawyer failed to inform the professor is that while software can not be patented, it CAN be copywrited. That was a very expensive oversight for the professor.

The professor originally came up with the idea based on stories from students returning from co-ops with a particular company. That company had a long room with blackboards all down the wall. The co-ops were charged with collecting financial information about the company and entering the info into squares on the blackboards. Each square included calculations or directions with what to do the information.
While that ("Software cannot be patented") was generally true in 1978/79, software was patented prior to Visicalc coming into existence. The 1981 "Diamond v. Diehr" case opened up more territory for software patents. While mathematical formulas could not be patented, novel uses could be patented.

I remember those days (somewhat) well as a young pup as I am co-author of one of the early software patents (filed in 1983 on work already done - we had to rush to get it written up given it was ready to be released because once the product was commercially available it would no longer be patentable.)

p.s. I use VisiCalc as an example in an intro to CS class as an example of a single application that essentially "made" a platform successful (i.e. a "killer" app).
copyright1997reloaded is offline   Reply With Quote
Old 02-10-2023, 11:10 AM   #17
Full time employment: Posting here.
 
Join Date: Jan 2008
Posts: 754
Quote:
Originally Posted by padlock View Post
I believe AI tech is going to usher in unpreceded productivity growth. I feel the same way I did when I first found out about the internet back in 1992.

What's the best way to invest in this area? I heard Microsoft has invested heavily in OpenAI. Would they be my best bet?

Maybe you could just ask ChatGPT what the best way to invest in its technology. I would what be curious what it recommends.
__________________
Retired July 2013 at age 49.

Lazy Portfolio Investor:
AA: 55% Stocks
35% Bonds
10% Cash
NanoSour is offline   Reply With Quote
Old 02-10-2023, 11:29 AM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
JoeWras's Avatar
 
Join Date: Sep 2012
Posts: 11,701
"Dear ChatGPT. Is Google going to smoke you?"

I don't have an account. I can't try.

EDIT: got an account, got my answer. In short: no, we don't compete.

I got an interesting answer on another query which I'll take to the non-investing thread.

Quote:
As a language model created by OpenAI, I don't compete with companies like Google. OpenAI and Google have different goals and approach AI research and development in different ways. While Google is a leading technology company that offers a variety of products and services, OpenAI is a research organization focused on advancing AI in a responsible and safe manner. Both organizations play important roles in shaping the future of AI and are working towards their own unique objectives.
__________________
Retired Class of 2018


JoeWras is offline   Reply With Quote
Old 02-10-2023, 02:42 PM   #19
Recycles dryer sheets
Alex The Great's Avatar
 
Join Date: Nov 2016
Location: San Jose
Posts: 464
The problem is any AI heavily depend on electrical grid when going through training. While it need so much power, human accomplish may be smaller task but with much less resources. I do see it as a major limiting factor.
Alex The Great is offline   Reply With Quote
Old 02-10-2023, 06:26 PM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,668
The problem is that there are no requirements that we 78 yos write a term paper.
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
ChatGPT gromit Technology, Media & e-Gadgets 147 08-02-2023 01:06 PM
Bank messing with my mortgage thatguy FIRE and Money 45 03-08-2022 10:45 PM
Amazon is messing with us (or maybe just me) Amethyst Other topics 20 06-02-2021 02:35 PM
Stuck with a TIMESHARE. Advice how to get out? It’s messing with ER numbers drumstring Hi, I am... 58 06-14-2020 10:43 AM
Medicare Part D company messing with billing perhaps mf15 Health and Early Retirement 1 06-27-2013 02:43 PM

» Quick Links

 
All times are GMT -6. The time now is 02:20 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.