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True, but a better comparison is the dot-com crash. The effects of that were mainly contained to the tech industry and the stock market. People who weren't inve
by imiric 9mo ago
True, but a better comparison is the dot-com crash. The effects of that were mainly contained to the tech industry and the stock market. People who weren't invested in either barely noticed the crash.
This time around the ramifications might be larger, but it will still mostly be felt by those inside the bubble.
Personally, I would rather experience a slight discomfort from the crash followed by a normalization of hardware prices and the job market, than continue bearing the current insanity.
- thewebguyd 9mo ago> better comparison is the dot-com crash. The effects of that were mainly contained to the tech industry and the stock market. People who weren't invested in either barely noticed the crash. That's because the companies were largely public. In the dotcom era, the exit for startups was to IPO, as early as possible. When someone like pets.com was burning through cash with zero path to profitability, it was public knowledge, everyone could see it. The AI built out is largely funded with private credit. It's a black box, we have no idea of true valuations. The mean time for a company to go public went from 4 years during dotcom to 14 years now. The rot can be hidden for a long time until the big funds go bust, with all the collateral damage that brings.