The conspiracy theory angle I would go with is a little different.
Low interests rates fueled a startup boom into the 2010s, capturing that emerging industry within the U.S. economy. AI looks promising, but the best is yet to come, so there’s a chance to reprise the earlier success that we saw into the early 2010s.
High interest rates currently mean that failed startups (those established pre-LLMs) will more easily die off, and bad conditions for software engineering employment will re-align the tech workforce toward AI. If this is a strategy that is being enacted, then I’d expect to see favorable startup funding conditions again, such as low interest rates, within a few years, to make sure the U.S. captures the AI startup market. It’s just not time to do that yet, since we need to wait for a re-skilled workforce and for a better-developed picture of what a typical successful AI startup would look like in the late 2020s.
An economist might say that no conspiracy is required, that this is simply the invisible hand at work.
Low interests rates fueled a startup boom into the 2010s, capturing that emerging industry within the U.S. economy. AI looks promising, but the best is yet to come, so there’s a chance to reprise the earlier success that we saw into the early 2010s.
High interest rates currently mean that failed startups (those established pre-LLMs) will more easily die off, and bad conditions for software engineering employment will re-align the tech workforce toward AI. If this is a strategy that is being enacted, then I’d expect to see favorable startup funding conditions again, such as low interest rates, within a few years, to make sure the U.S. captures the AI startup market. It’s just not time to do that yet, since we need to wait for a re-skilled workforce and for a better-developed picture of what a typical successful AI startup would look like in the late 2020s.
An economist might say that no conspiracy is required, that this is simply the invisible hand at work.