The Face-AI-book
I wanted to write something this week about the continuous moral decline of Facebook. But then I found something related that I thought you might find entertaining. Both stories are strangely complimentary.
The thing that distracted me from Facebook’s situation? Someone attempted to build an AI Hedge fund. People on LinkedIn seemed captivated by the idea.They described it as a way that even you, in a few easy steps, could have your own hedge fund making you money. Not sure if you'd be making billions, but millions for sure.
As always, we are presented with a diagram with boxes and rather than using the typical 'LLM' labels, they are labeled with more attractive titles. The 6 AI Agents are Market Data Detective, Quant Brain, Fundamentals Expert, Sentiment Scanner, Risk Guardian, Portfolio Commander.
Obviously, the author of the post fell in love with AI, as we can tell from the statement 'The genius is in how they work as a team.' The author also predicted that some of you might have your doubts if something like this might work, which was addressed with 'This isn't a gambling bot.' I would never have guessed that.
Finally, to make sure that you too can do it, here is the assurance:
'What I love is that it's open source meaning:
👉 You can build this yourself. No finance degree needed.
👉 No coding experience required.
👉 Everything's open source.'
It reminds me of the time when I was given a book with a detailed description of how to win Lotto 6/49.
What is sad is that over 2,000 people clicked the 'Like' button. Fortunately, the comments were more realistic.
Of course, I don't want to stand between you and untold riches. Here is the link to the code and as a token of appreciation for reading this newsletter, I can help you to install it.
In case you are interested in a real hedge fund, here is a link to one of the top hedge funds - Citadel. This company is on a continuous hunt for the brightest to give the company the competitive edge. Do you really think that companies like this don't know about AI - or whatever we called the technology before we start using AI??
The above is an example of how people are trying to use new technology and replace people. Mostly for fun.
That changes when a company like Facebook (or Meta) decides to augment you and create this utopian thing where humans are secondary.
Facebook announced its new AI product for Instagram and Facebook, where users will be able to create their alter ego. It also introduced a tool for users to create AI assistants that can respond to questions from their followers.
Imagine that after you amass millions of followers you no longer have the time to communicate with all of them. Here is the description from Instagram documentation:
'Your AI can help you save time by engaging with more fans and connecting in a new way, starting with chats. Once you create your AI, you can chat with it and ask questions you think your fans might ask to see how it responds. You can also add facts, links you’d like your AI to share and topics you’d like your AI to avoid.'
And now, you will be able to create your assistant which will answer questions about you 24/7/365. Of course, I would like to ask questions of all the popular people who I admire and who would never talk to me. This will be a great opportunity. However, sometimes I have to work. Suddenly, the possibility of creating my own AI version will allow me to ask questions round the clock to as many people as possible.
Naturally, Meta expects 'these AIs to actually, over time, exist on our platforms, kind of in the same way that accounts do,' according to Connor Hayes, Vice-President of Product for Generative AI at the company.
And you thought that Facebook and others were the swamps of humanity. The good news is that we dragged the innocent AI into this social wasteland. I can now see why Anthropic hired the AI Welfare Researcher. Now it really makes sense.
Sadly, yes, there is a recurrent pattern. Mr. Zuckerberg with his Meta company is still moving towards the delusional Metaverse but with this latest enhancement, there is no longer a need for humans. Just AI talking to each other, consuming advertising. Suddenly, content moderation and fact checking will no longer be an issue as all the questions and answers will be sanitized before they get asked and answered. Meta will show doubling the number of accounts, which means that advertisers will be able to reach twice that many accounts and pay twice as much money. The true happiness is within our (Mr. Zuckerberg's) reach.