OpenAI has been fairly loose on the branding.. They never expected ChatGPT to be huge and a bunch of devs were already using the davinci APIs. Earlier on the ChatGPT API was not even available for external use. Plus ChatGPT became famous but not OpenAI so much. So they told devs you can add powered by ChatGPT if you use the API endpoints.
Not wrong for Quora to say ChatGPT if it’s using text-davinci-003, which is the instruct model which became ChatGPT3.5.
I still think it’s a room temperature and ambient pressure superconductor. I’m amazed at how bad Nature, Scientific American and the mainstream press are.
1. Population is growing -> sure worldwide, but projected to start declining by mid century. In addition, Japan, Italy and other places are already in decline. Japanese home prices have been almost flat for 30 years. Tokyo has no zoning and you can build what you want. If you live in the developed world, East Asia, China, etc you are going to witness declines if you don't have immigration
2. People are moving to cities -> Were. Covid has allowed a lot more flexibility. First tier city residents moving to second tier and rural areas with good internet service. Real reversal of the last twenty years.
3. More people are living alone -> sure because there are fewer of them. Direct contradiction of point 1 by the way.
4. Multiple house ownership. So what?
5. Housing construction isn't keeping up. Sure. But that can be fixed if there is political willpower.
6. Material shortages and building costs. -> We were just in oversupply of materials post '08 financial crisis. We could be again. Just focused investment on production of materials. Land.. If you have Hong Kong density, the entire US population could squeeze into a corner of the state of Texas.
7. Sure inflation is soaring, but can come down again, with higher interest rates, which would also absolutely slaughter leveraged real estate investors.
8 Weird thing on the monopolists... They were already financing 90% of house anyway with debt. You were paying a rental equivalent called a mortgage. Now they're financing 100%, and you still pay a rental equivalent.
9 Outrageous leverage - individual homeowners have way better leverage. 30 year fixed mortgage with the option to refi to lower interest rates if they are available. Corporates don't get to access that. What's really happened is that post '08 financing disappeared for buyers with low credit scores.
The Solution is Simple
1. Get rid of most single family zoning
2. Create incentives and penalties such that cities with higher real estate prices build more housing of all kinds
3. More supply everywhere
Not wrong for Quora to say ChatGPT if it’s using text-davinci-003, which is the instruct model which became ChatGPT3.5.