Workaday copywriting is dead (was moribund, now has been shot in the head). Prestige literary writing is zero-sum and therefore eternal, in the same way that equities trading (not formation and not business-building) is zero-sum and therefore the actual success of LLM has not given anyone a signal advantage anywhere there, because everyone else has LLM too.
Copywriting struggles with the issue that businesses know they need it, but they don't value it. It's absolutely shocking to see how poorly companies, and governments, communicate and no amount of AI/LLM usage will change it. For decades it's been neglected and relegated to "cover my ass"- writing.
The majority of AI deployment in businesses could have been avoided, if more attention had been placed on good communication. LLMs don't yield better communication or corporate writing, just more of it, because no one in business seems to understand the value or have the ability to recognize good writing.
I am not a writer but I do have to write a lot for work. The person who used to edit things for me has not been replaced, and I am expected to use AI. It is very good, but it's not all the way there. I am now left to decide whether to take the time to do it right or to go back to doing what I actually get paid to do. I wish my organization realized how important both sides of that decision tree are: we really ought to be careful about how readers perceive what we put out there, AND this isn't my job and we should have someone who's even better than me at this.
But this is an old trend with technological developments. Thanks to e-mail, most people handle much or all of their own correspondence. There used to be specialized staff for that. They were very good at it! But they were shown the door once they ceased to be strictly necessary, and now we all waste a bunch of time fiddling with Outlook instead of doing our actual work.
> The person who used to edit things for me has not been replaced,
I assume you meant "now" instead of "not": "The person who used to edit things for me has now been replaced,"
> It's absolutely shocking to see how poorly companies, and governments, communicate and no amount of AI/LLM usage will change it.
Thank you for saying the first part. It truly boggles the mind to see how badly most organizations communicate, even those with professional staff tasked with communications.
Regarding the second part: AI/LLM usage will lead to improvements for some people/organizations, if only for the simple reason that it removes barriers to communications. All of a sudden city hall or a third-tier supplier can quickly update their websites in multiple languages, process email communications more quickly, and empower staff who weren't good writers.
Equity trading is not zero sum. There are real businesses and assets behind the equities they represent that have actual value and produce actual money.
The business-building is not zero sum, but the trading is zero-sum, and the societal purpose of the thing is to provide liquidity
theoretically equity trading is about distributing stonks most optimally so that productive companies get more and less productive ones get less, improving productivity of society as a whole
We all know it hasn’t actually been about that for a long time.
Derivatives (options, futures, swaps, etc) are a zero sum market, there is always a winner and a loser necessarily because the contracts have an expiration date.
The same is not true for trading equities, they are not zero sum. There are dividends, buybacks, companies will sometimes spin off a part or parts as separate companies that you get newly issued shares of stock from (GE splitting into parts is a recent example), public companies get taken private at a premium to the market price, etc.
Futures are zero sum, but can also be a win for both sides, because what they gain is stability.
"I will buy y tons of corn from you in April for £x" - now I don't have to worry about how much my corn will cost and you don't have to worry about what your income will be.
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The market has been heavily engineered and gamed to be positive sum. But sometimes I wonder could it turn out to be negative sum on certain timescales. That is that overall money would be lost on markets.
It can certainly be negative sum for a generation at a time, say 20 years. The US stock market has the good fortune of not doing that in a long time but if you look around the world for example Japan these periods are not hard to find.
This is more or less what Ray Dalio was getting at with The Changing World Order, IMO.
Presence of many options directly affect equity prices.
Presumably they mean HFT / "locals" / "sell side."
These folks compete in a reasonably zero-sum game.
They're market makers who provide liquidity. So it's not exactly zero-sum.