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Why AI Is Tech's Latest Hoax
Right now, Kajabi is offering a free 30-day trial to start your business if you go to kajabi.com/modernmba
Tech is a sector unlike any other - it’s an industry where individuals can turn into billionaires overnight, ideas supersede fundamentals, and leaders are rewarded for showmanship. In today’s Silicon Valley, innovation is crowned and not earned. Venture capitalists and founders are symbiotic. Unprofitable companies are kept alive with injections of capital, gamed valuations, and manufactured hype with the goal of surviving long enough to IPO.
Starting in the early 2010s, Silicon Valley had championed big data as a revolutionary technology that could unearth deep insights, hidden patterns, and innovation from massive amounts of data. Yet the market started to question in the early 2020s if any of these promises had even been real as nearly all consumer and SaaS startups were still bleeding nearly a decade later.
Out of nowhere, ChatGPT was released and AI became Silicon Valley’s next big thing. Every tech company is now an “AI company”, every Fortune 500 needs an “AI strategy”, VCs are only investing in AI startups, and every product is an “AI” product. This is a deep dive into how artificial intelligence is just the latest tale spun by Silicon Valley to sweep prior failed trends under the rug, keep valuations high, and outlook positive.
Before AI, there was crypto, web3, blockchain, virtual reality, big data, IoT, and wearables - all supposedly revolutionary technologies that have never lived up to the hype. In this episode, we’ll dive into the market dynamics that push companies and individuals to jump headfirst into tech trends, how this all started with big data, and why AI is ultimately just another pump-and-dump.
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0:00 Modern Silicon Valley
6:42 Sponsor Break (Kajabi)
8:29 Post Dot-Com Beginnings
17:22 Data-Driven FOMO
28:19 Shovel Economics
Переглядів: 470 957

Відео

The Evolving Business of Doughnuts
Переглядів 329 тис.Місяць тому
Visit NetSuite.com/ModernMBA to sign up for their one-of-a-kind flexible financing offer. Get 20% off DeleteMe US consumer plans when you go to joindeleteme.com/ModernMBA and use promo code MODERNMBA at checkout DeleteMe international Plans: international.joindeleteme.com, coupon MODERNMBA Donuts are a multi-billion dollar industry fueled by insatiable demand. The United States is the battlegro...
The Secret Hustlers Behind Chicago‘s Hottest Parties
Переглядів 89 тис.2 місяці тому
Right now, Kajabi is offering a free 30-day trial to start your business if you go to kajabi.com/modernmba Every city has nightclubs - social venues where people can mingle with strangers, dance with friends, and escape the monotony of life in an environment of darkness, music, and chaos. As businesses, all nightclubs face the same challenge every week. If you’re a club owner, how do you make y...
The Dangerous Wild West of Online Gambling
Переглядів 303 тис.3 місяці тому
Right now, Kajabi is offering a free 30-day trial to start your business if you go to kajabi.com/modernmba If you’ve watched any American sports game recently, there’s a good chance you were blasted with an ad from FanDuel, DraftKings, BetMGM, WynnBET, Caesars Online, and various online casinos promising free money and million dollar jackpots upon signup. Historically, sports betting and gambli...
How Taco Bell Crippled KFC & Pizza Hut
Переглядів 328 тис.4 місяці тому
Use code MODERNMBA50 to get 50% OFF First Box and free wellness shots for life with any active subscription at bit.ly/3QtRqdt! Taco Bell is an extraordinary outlier by every measure. It’s a fast food chain that boasts a deeply passionate fanbase, enjoys a reputation for reliability, speed, and accuracy, and when it comes to business - Taco Bell has grown at such a breakneck pace over the past 2...
The Rise & Fall of Lionsgate
Переглядів 153 тис.5 місяців тому
Thanks to Storyblocks for sponsoring this video! Download unlimited stock media at one set price with Storyblocks: www.storyblocks.com/ModernMBA The movie industry is dominated by the “Big Five” of Paramount Studios, Universal, Sony Pictures, Warner Brothers, and Walt Disney Pictures - who eat up over 80% of the box office. But in a era where awards are meaningless, streaming has replaced DVDs,...
The Chilly Business of $1,000 Puffers
Переглядів 164 тис.5 місяців тому
Puffer jackets and the broader outerwear market are a competitive billion-dollar market that's been historically dominated by legacy brands like The North Face and Columbia. But in recent years, there has been a strong push towards luxury with the emergence of Canada Goose and Moncler. 10 years ago, spending $100-300 on a winter jacket would have been considered to be a top-of-the-line investme...
The Absurd Economics of Wish, AliExpress, and Temu
Переглядів 511 тис.5 місяців тому
Save time and money when you ship with Rollo. Use code MODERNMBA1 to get $10 off your first shipment. www.rollo.com/modernmba/ Temu is everywhere, promising that you can shop like a billionaire buying $10 wireless speakers, $12 sneakers, $20 drones and other cheap gadgets, clothes, backed with the promise of free shipping, 90-day returns, 30-day price adjustments, and deliveries within 2 weeks....
Pizza Wars: The Exorcism of Papa John’s
Переглядів 171 тис.7 місяців тому
Use code MODERNMBA50 to get 50% off your first Factor box at bit.ly/3QtRqdt! For a business about making and selling pizzas, Papa John's has gone through non-stop drama, infighting, and controversy in recent years. While every company has its problems, Papa John’s takes the cake with the founder trashing his own company in public. But when a founder says a racial remark in a recorded business m...
The Extinction of GoPro
Переглядів 560 тис.7 місяців тому
Go to kajabi.com/modernmba to get your 30 day free trial! In the 2010s, there was one startup who by the measures of Silicon Valley and Wall Street, seemed destined to be the next big billion-dollar consumer brand. That company was GoPro. GoPro took the world by storm with its game-changing cameras. With radically compact design, tiny form factor, high portability, rugged waterproof exteriors, ...
Fried Chicken Wars: The Curse of Popeyes
Переглядів 622 тис.8 місяців тому
For a free strategic alignment guide with evolved SWOT analysis, visit Organizational Physics. Click here: organizationalphysics.com/strategic-alignment-guide-modern-mba/ Popeye's chicken sandwich is one of the greatest modern business phenomenons. For years, McDonald’s, Burger King, KFC, and other leading brands have given up on innovation and instead lean on nostalgia to breathe life into sta...
The Dying Business of Roller Coasters
Переглядів 275 тис.9 місяців тому
If you’re struggling, consider therapy with our sponsor BetterHelp. Click betterhelp.com/mba for a 10% discount on your first month of therapy with a licensed professional specific to your needs. The amusement park, like the shopping mall and movie theater, was once an indispensable establishment for every major metropolitan. Before the Internet, the amusement park thrived as a provider of affo...
The Rise & Fall of Under Armour
Переглядів 951 тис.10 місяців тому
In the 2010s, there was one tiny American brand doing what no one else had been able to do for decades in sportswear. It had grown sales in North America at double digits every year for 13 years, taken market share from Nike, and leapfrogged Adidas as the new number #2 athletic brand in the United States. It was an upstart with a passionate fanbase, competed on quality over price, and backed by...
The Invincible Business of Diners
Переглядів 835 тис.10 місяців тому
Build wealth better with your own dedicated financial advisor and try Domain risk-free for 30 days: dmnmny.co/modernmba Fluffy pancakes, sunny-side eggs, crispy bacon, golden hash browns with buttered toast and coffee. For decades, diners have specialized in serving not just the hearty American breakfast but also classics like burgers, waffles, milkshakes, soup, and pie. Due to their sustained ...
Western Union: Banking & Finance for the Poor
Переглядів 460 тис.11 місяців тому
Banks make money by lending out the money that you deposit. The more cash you put in, the better you’re treated - transactions take priority, fees get waived, interest rates are higher, and a personal banker is assigned. On the flip side, the less money in your account, the more fees you pay, and the further back in the line you start from. Banks chase affluent accounts who bring large balances...
The Tech Revolution of Law Enforcement
Переглядів 127 тис.11 місяців тому
The Tech Revolution of Law Enforcement
How Cruises Make More Profits Than Airlines
Переглядів 564 тис.Рік тому
How Cruises Make More Profits Than Airlines
Why Starbucks Must Crush Unions to Survive
Переглядів 477 тис.Рік тому
Why Starbucks Must Crush Unions to Survive
How GameStop Fell Apart in 5 Years
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How GameStop Fell Apart in 5 Years
The Bait & Switch of Home Security
Переглядів 416 тис.Рік тому
The Bait & Switch of Home Security
The Resurrection of Abercrombie
Переглядів 130 тис.Рік тому
The Resurrection of Abercrombie
How Burger King Lost to Wendy’s
Переглядів 307 тис.Рік тому
How Burger King Lost to Wendy’s
The Timeless Business of Steakhouses
Переглядів 2,2 млнРік тому
The Timeless Business of Steakhouses
Why Uber Fails to Disrupt
Переглядів 420 тис.Рік тому
Why Uber Fails to Disrupt
How Self Storage Thrives Off The American Dream
Переглядів 1,1 млнРік тому
How Self Storage Thrives Off The American Dream
Why Football Is Bad Business
Переглядів 515 тис.Рік тому
Why Football Is Bad Business
A Tale of Greed: How 4 CEOs and $5B Failed Twitter
Переглядів 365 тис.Рік тому
A Tale of Greed: How 4 CEOs and $5B Failed Twitter
How Online Dating Apps Make Billions
Переглядів 167 тис.Рік тому
How Online Dating Apps Make Billions
Fried Chicken Wars: The Fall of KFC in America
Переглядів 2,9 млнРік тому
Fried Chicken Wars: The Fall of KFC in America
Buy Now, Pay Later: Echoes of the 2008 Recession
Переглядів 974 тис.Рік тому
Buy Now, Pay Later: Echoes of the 2008 Recession

КОМЕНТАРІ

  • @ArnaudMEURET
    @ArnaudMEURET 10 годин тому

    Who’s nervous seeing the guy at Mikiko’s preparing food with his bare hands “…and doing a bunch of other stuff” in parallel?

  • @lyndastarwriter8507
    @lyndastarwriter8507 11 годин тому

    Peter...dude, you're in this all by yourself...ask for help from friends, family who'd love to lend a hand. For $12K / month rent, where else can you produce your artistic, gourmet doughnuts, ie; sharing a kitchen and taking the doughnuts OUT there. You're waiting for foot traffic...Bring the doughnuts to the foot traffic at events, schools, churches and give them a cut, say on a $6 donut, give them a dollar - they'll set up the display rent included for a kitchen showcase...for the event.

  • @johnbourassa1550
    @johnbourassa1550 12 годин тому

    North America back to back WW1 and Champs!!! God Bless North Americans! America and Canada are all that matter to me.

  • @user-xo7hb6ts7j
    @user-xo7hb6ts7j 13 годин тому

    I do believe that there is a fundamental difference between big data and AI. Big data is only meant to increase profitability, not to create consumable products. What seems to be missed between all the big data startups thay fave failed is that most of them werent startups at all. Its too long to break is all down, but lets take Casper, for example. Even though they pretended to be a tech company, they are basically well-dressed white-labebel, not tech company. They've failed to be profitable because they were not able to achieve the profit margin that they needed to get to, which is exactly the same reason that papa and mama dakary down the street has failed as a buisness. Unlike big data, AI can generate consumable product. Yo're on youtube, you know how many videos are now made by some guy from Bangladesh, that uses ai-generated text, ai-genrated speach-to-text, ai imagerry. Despite the merits of such "entratainmebt," it is fundamentaly, categorically different from anything that big data can do, its a product. Whether you like it or not, AI is the future.

  • @1BigDaDo
    @1BigDaDo 13 годин тому

    TACO BELL SUCKS ASSHOLE

  • @panamathrill4425
    @panamathrill4425 14 годин тому

    Thank you, great insight

  • @joehorton6381
    @joehorton6381 14 годин тому

    You should do one about how Movie Theaters don't care/worry about streaming. How streaming helps movie theaters. As someone in the movie theater industry for 18 years, I would be happy to be a source.

  • @ArthurDentZaphodBeeb
    @ArthurDentZaphodBeeb 15 годин тому

    Average person eats 31 doughnuts/yr? I doubt I've eaten 31 in my life. Explains the spandex hefers we see everywhere...

  • @cryptochris247
    @cryptochris247 18 годин тому

    Make Lola's Great Again.

  • @NonEuclideanTacoCannon
    @NonEuclideanTacoCannon 18 годин тому

    "Why MBAs Shouldn't Be Trusted With Your Money." Burying your head in the sand isn't going to stop the robots from taking your jobs. *Especially* middle management and C-suite. It's already happening. No wonder all you business lizards are freaking out and telling shareholders it's a scam. Once the shareholders realize they can replace you with a box of silicon in a basement in Arizona, you guys are going to have to work two jobs and sell plasma to live indoors too.

  • @andreys7729
    @andreys7729 22 години тому

    Saying Big Data was just another "pump-and-dump" is just plainly stupid.

  • @tangerine5903
    @tangerine5903 22 години тому

    Decided to check out the menu on Lola's Doughnuts website out of curiosity and honestly, no wonder people aren't buying his stuff. The website's not even finished, the menu has stuff saying "Add a description here". Looking at it, I wouldn't think it was some high end, gourmet doughnut place, I'd think it was some mom-and-pop shop that couldn't even get the pictures and text on their website's menu straight.

  • @apparentlybrian
    @apparentlybrian 23 години тому

    Virtual Reality peaked with the Metaverse, the electronic dollhouse where we would supposedly spend all day in a virtual office building holding virtual meetings among virtual coworkers.

  • @spencerbentley8852
    @spencerbentley8852 День тому

    Hey future people! This one will age like fine milk. It's currently 2024 and this UA-camr thinks AI is a "tale spun by silicon valley" for growth (All while trying to sell you an MBA program.. oh the irony). If this channel can get that so wrong, what about everything else?

  • @johnkean6852
    @johnkean6852 День тому

    Hate to blow your bubble but Dunkin' and Krispy .... ARE NOT DOUGHNUTS! Doughnuts are brioche covered with sweet icing and sweet toppings and real chocolate. Basic ones simply with caster sugar. _The toppings on KK and DD are chemical colouring and dextrose._ YEEEEOOWW! I don't understand why people enjoy them/say they enjoy them. I think they're brainwashed.

  • @cammyr12Productions
    @cammyr12Productions День тому

    Conflicted because i believe in the need for this kind of service but dont believe in this type of business model

  • @keeganandre1708
    @keeganandre1708 День тому

    we have been conflating "progress" with the tech industry. but how much progress has tech really achieved? we are not as far in the future as we'd like to think

  • @alexanderSydneyOz
    @alexanderSydneyOz День тому

    "latest hoax"... ie like smart phones, bluetooth, 2G, 3G, 4G, 5G, computers, website designing software, software generally, ChatGPT, voice recognition, etc. Those sorts of hoaxes, I assume? there is certainly hyperbole in frontier tech businesses, but the idea that it is all smoke and mirrors "pump and dump", as presented in this video, is a load of rubbish. Ironically, it is also indulging in exaggeration for profit, though in this case the profit is payments from UA-cam.

    • @pooper2831
      @pooper2831 21 годину тому

      wheel was the first ever pump and dump created by stone age VCs.

  • @SomPrince
    @SomPrince День тому

    Last guy sounds like a serial killer

  • @thekingofallblogs
    @thekingofallblogs День тому

    The trouble with MBA analysis is that it usually doesn't take into account what users want. Krispy creme was popular because it was fresh. Converting to a hub and spoke model instantly destroyed any remaining customer loyalty. If you want to charge premium prices, you need a premium product. Seems like every MBA plan lowers costs but also quality

  • @andrademeza
    @andrademeza День тому

    peter has a great product but he is ass-backwards on marketing. marketing hype will sell a mediocre product like crazy, not usually the other way around. Just look at crumbl.

  • @kingkaga898
    @kingkaga898 День тому

    Lola's doughnuts segment was sad.

  • @zijie-he
    @zijie-he День тому

    If i say dynamic programming is the future, nobody would care. But ai and dynamic programming are both algorithms.

  • @TecnoTyler
    @TecnoTyler День тому

    “We have touched millions of our customers.” -The Catholic Church, probably

  • @arthurvicioso
    @arthurvicioso День тому

    What was that ad read 😂

  • @inactive8414
    @inactive8414 День тому

    I don't know a single person who still uses Facebook in this day and age mainly because we all quit using it years ago.

  • @thedeanofbacon5270
    @thedeanofbacon5270 День тому

    Headline: Billionaire buys every US citizen an item off the Dollar Menu for 2nd day in a row, no drink or fries, McDonald's goes bankrupt.

  • @Kingcobra6699
    @Kingcobra6699 День тому

    Well the blockchain will save us all. Or did that already happen 😂😂😂?

  • @tanthiennguyen9308
    @tanthiennguyen9308 2 дні тому

    Mittagessen a guten Appetit

  • @tanthiennguyen9308
    @tanthiennguyen9308 2 дні тому

    Meine Verwanden sind noch in Japan...................!

  • @tanthiennguyen9308
    @tanthiennguyen9308 2 дні тому

    Wer ist der Unterschätzten am Kriegen Führungskräfte Methoden Strategien lernen............? Rider Mensxh

  • @tanthiennguyen9308
    @tanthiennguyen9308 2 дні тому

    Wow, gestern habe ich der Amerikanischen Kriegen Führungskräfte Methoden Strategien Jacke in Frontier mit Pferden........!

  • @tanthiennguyen9308
    @tanthiennguyen9308 2 дні тому

    Gibt Pferde in Japan.......................................?

  • @tanthiennguyen9308
    @tanthiennguyen9308 2 дні тому

    Wo ist der Nemo singen Bitteschön ? Applikationen Entwickelt erklärt an Jugendlichen nach Forschungen

  • @torpedo927
    @torpedo927 2 дні тому

    Deadass got a kfc ad before the video started

  • @xeakpress2718
    @xeakpress2718 2 дні тому

    Can you guys explain the graphs to me? I feel like I should understand them, but I'm dumb. It says net revenue, which is the larger number, and then operating income, which is red, but it's always a lower number.

  • @MrDaAsif
    @MrDaAsif 2 дні тому

    Thank you for bringing the shovel economics up. I'm a software engineer and I find enough people don't realize how incentivized we are to hype things up and be dishonest about how valuable the hot new thing is Similarly in overcomplicating engineering and you play to the complexity of tech needed

  • @greatguytv
    @greatguytv 2 дні тому

    24π6m

  • @greatguytv
    @greatguytv 2 дні тому

    Le plus grand 1 au Canada. Tu ne m'as pas donné ton truc. Tu as 18 ans ? Je pourrais être trop profond pour toi à moins que tu ne sois super curieux, 18 ans

  • @greatguytv
    @greatguytv 2 дні тому

    24π6¥™

  • @pittwm
    @pittwm 2 дні тому

    I’ve been in restaurant business for 25 years and the happenings the last few years makes me want to quit and retire. Last week, I had to replace evaporator coil in the wall in, that was 6k. Dinning room AC needs to be replaced (only 8 years old unit) at a whopping 30k…

  • @TheMetacognologist
    @TheMetacognologist 2 дні тому

    Yes theres a lot of fakers and hoaxs in the ai space as many corporations hop on the band wagon in order to compete but you'd be a fool if you thought it was all fake. Look at what Nvidea is doing not just with hardware but with software, training robots a million times over in virtural reality as well as train 3d cgi models. The advances with Sora shows the entertainment industry is about to change. A major shift in robotics is around the corner with boston dynamics and Tesla. Even energy production is seeing some major advancements. There will be winners and losers in the new era, do the research before believing the hype though for sure.

  • @alokinzna
    @alokinzna 2 дні тому

    I dont agree that AI is a hoax ... I mean it can code ffs ! Tell it what you want and it spits it out ... Can even find mistakes ... That definitely isnt a hoax . Neither are image generators .

  • @ckatheman
    @ckatheman 2 дні тому

    Did you get your pair of HD sunglasses?

  • @bloodline39
    @bloodline39 2 дні тому

    So the world will move back to blockchain now?

  • @AP-lh1bq
    @AP-lh1bq 2 дні тому

    I can’t think of another channel that closes cold like that.

  • @cpm1003
    @cpm1003 2 дні тому

    The modern world is led by con-artists.

  • @Corpomancer
    @Corpomancer 2 дні тому

    This is what we get when big tech is too big to fail and any failed venture is fully played out. Bankrupt the companies instead of adhering to bankrupt corporate policy.

  • @jimmiejohnsson2272
    @jimmiejohnsson2272 2 дні тому

    Remember when starbucks started showing up here in Stockholm (in the city area). Was curious to try, but sadly very disappointed by the quality. Terrible coffe and bad cookies. They left in like maximum 2-3 years probably because they couldnt compete with such terrible products (Stockholm is full of much better cafés serving good quality coffe and cookies). Was same story when dunkin donuts opened a store, terrible products and just left in like 2-3 years. Is coffe at starbucks the same bad in the US? If so I dont understand how they can stay in business

  • @Starklar
    @Starklar 2 дні тому

    lol, how fucking dumb is this... perhaps driving engagement but fuck it.... ALL THOSE "HOAXES" ARE MILLION DOLLAR INDUSTRIES