[TheOtherHobbes]

The implication is that companies in a private market can't possibly be hugely inefficient for irrational reasons that can ultimately be self-harming.

An interesting take.

[watwut]

They can be irrational and ineffective. Nevertheless, if LLM are useful, they would still earn more then before.

Regardless of their effectivity, it means LLMs are not useful for them.

[weatherlite]

I used the term "private market" when I actually meant the private sector. I just mean all labor that isn't government owned - public companies, private companies etc. So yes - in a reasonably functioning capitalist market (which the U.S still is in my eyes) I expect gross inefficiencies to not be prevalent.

[generic92034]

> So yes - in a reasonably functioning capitalist market (which the U.S still is in my eyes) I expect gross inefficiencies to not be prevalent.

I am not sure that is true, though. Assume for a moment that Google would waste 50% of their profits. Truly, a huge inefficiency. However, would that make it likely some other corp could take their search/ad market share from them? I doubt it, given the abyss of a moat.