Asger Risom
Michael Burry finds support from Ben Affleck over AI doubts
Skepticism around artificial intelligence is no longer confined to hedge funds and market analysts. A Hollywood A-lister has now entered the debate, echoing concerns that the promises surrounding AI may be running far ahead of reality.
The unlikely alignment brings together finance and film, united by doubts about how transformative the technology will truly be.
An unexpected ally
Michael Burry, the investor famous for betting against the US housing market before the 2008 crash, has found support from actor and filmmaker Ben Affleck. According to Business Insider, Affleck questioned the grand claims made about AI during a recent appearance on “The Joe Rogan Experience” podcast.
“I think a lot of that rhetoric comes from people who are trying to justify valuations around companies, where they go: ‘We’re going to change everything in two years, there’s going to be no more work,’” Affleck said.
“Well, the reason they’re saying that is because they need to ascribe a valuation for investment that can warrant the capex spend they’re going to make on these data centers,” he added.
Affleck argued that new technologies historically spread slowly, rather than delivering sudden, world-changing leaps.
Burry responds
Burry welcomed Affleck’s comments, calling him “clearly a smart guy” in a post on X. “So this does not surprise me. It sounds familiar and on point,” he wrote.
The investor has warned repeatedly that AI companies are overinvesting in chips and data centers that may soon become obsolete. He believes the technology will be commoditized, leaving firms facing weak returns and potential write-downs.
Burry is best known for his early bet against the housing bubble, a story later told in Michael Lewis’ book “The Big Short” and its film adaptation.
Doubts about value
Affleck also questioned the practical usefulness of current AI tools. He said the writing produced by chatbots is “really shitty” and “not reliable.”
“I just can’t stand to see what it writes,” said Affleck, who co-wrote “Good Will Hunting” and directed “Argo.”
He suggested AI may be used in filmmaking as a cost-saving tool, similar to visual effects, but said it is unlikely to “write anything meaningful” or produce full films on its own.
A broader warning
Affleck added that many people appear to be using chatbots as companions rather than productivity tools, saying “there’s no work, there’s no productivity, there’s no value to it.”
Burry has made similar claims, recently writing that “return on investment will continue to fall, almost all AI companies will go bankrupt, and much of the AI spending will be written off,” according to Business Insider.
Sources: Business Insider
