Dispatch
Andrew Singleton's Crematorium Analogy Skewers Circular AI Financing
Simon Willison highlighted an Andrew Singleton analogy mocking circular AI financing: a propane company invests $20B for 5% of a crematorium, which burns $10B in the incinerator and pays the rest back — a pointed critique of compute-for-equity deals inflating reported AI revenue. The framing crystallizes growing skepticism about whether headline AI 'investment' reflects genuine demand or recycled capital between a few interdependent players.
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