Major AI stocks are getting obliterated lately, signaling what may be the beginning of the end for the tech euphoria.

cross-posted from: https://lemmy.ca/post/73158617

Burn baby burn!!!

“Many in the market feel we have no choice but for it to work out,”

Yes this is what it everyone feels like when they are in denial…

  • nosuchanon@lemmy.world
    1·
    5 minutes ago

    The 2098 crash was caused by the rate of mortgage growth beginning to slow. It was a confidence issue in MBS, similar to the AI bubble now. People are starting to lose confidence in their investments and wondering if it is still a good idea to buildout massive data centers.

    • Speltrong@feddit.org
      1·
      1 minute ago

      The 2098 crash was caused by the rate of mortgage growth beginning to slow. It was a confidence issue in MBS, similar to the AI bubble now>

      I read that typo like a satire historical comment

  • Goodbye_bluesky@lemmy.world
    18·
    4 hours ago

    I sincerely hope that a few of the fascist tech bros get absolutely obliterated. If all of them were gone with the snapped of a finger the world would instantly be a better place.

      • gnutrino@programming.devEnglish
        10·
        1 hour ago

        I don’t think a bail out would work (which isn’t to say the Trump administration won’t try it - you can never confidently predict they won’t do something stupid). The problem the AI industry has is that they’ve burned $2T and don’t seem to have any clear idea of how to turn that into a profit - more money on the furnace doesn’t help that.

        As much as the bank bailouts after 2008 left a bad taste in my mouth, banks are at least self evidently a profitable business that were able to successfully use the bailout to stay afloat.

        I could potentially see the AI companies’ creditors getting a bailout but most of them seem to be private equity so a bailout would be really unpopular (although see my above comments on not betting against the current US leadership doing something stupid).

        On the bright side, there’s a real chance we could see Larry Ellison go personally bankrupt. He lives on loans secured against Oracle shares and Oracle is currently endebted up to its eyeballs and borrowing at basically junk rates. If it goes down, those loans get called and he eats shit (to the delight of Sun Microsystems fans everywhere).