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> why would we insert this not-even-stupid noise into the information space? Because US tech would "collapse" otherwise. Big Tech's stock price is entirely pr
by ADeerAppeared 2y ago
> why would we insert this not-even-stupid noise into the information space?
Because US tech would "collapse" otherwise.
Big Tech's stock price is entirely propped up by AI hype. Metaverse didn't go anywhere so they need a new bubble.
US tech startups are even worse. The VC culture is completely incapable of building useful companies, AI is the last hype. Just a rat-race to grab the last funding and get bought out before the end of ZIRP kills the startup scene entirely.
There's no real demand for any of this shit. Even the web spam renaissance is mostly hustle-bros losing money. The writing is already on the wall with investment slowing down, and AI product after AI product bombing.
- intended 2y agoHey, collapse is unfair. Correct is better. They will go from trillions to slightly fewer trillions.
- surfingdino 2y agoSome will go to jail.
- KingMob 2y agoWhy do you think this? Nobody will go to jail. Maybe some paltry fines will be paid and some CEOs ousted, and that's about it.
- rsynnott 2y agoI mean, it's likely that _some_ fraud is going on, and that tends to become more apparent as the money runs out (for instance see SBF, or the various Ponzi schemes that ran out of road during the financial crisis), so when the AI bubble bursts, yeah, probably a few people will go to jail. But it doesn't seem like a significant factor.
- surfingdino 2y agoSomeone will oversell this. There is too much greed.