3 ms·

Five tech giants are hiding $1.6T in AI debt, using the trick that toppled Enron

104 points by arto 2mo ago

ChrisArchitect 2mo ago
Discussion on source: https://news.ycombinator.com/item?id=48987863 https://news.ycombinator.com/item?id=48987863
zrn900 2mo ago
And they are using the special debt vehicle tricks that made the 2008 bubble and the resulting crash. This is an economic nightmare: https://makingsense.quora.com/AI-Bubble-Seems-To-Be-Using-The-Same-Financial-Tricks-That-Led-To-The-2008-Crash https://makingsense.quora.com/AI-Bubble-Seems-To-Be-Using-Th...
- solumunus 2mo ago
  I’m glad we have a competent and trustworthy administration to guide us through this inevitable collapse.
  - cwmoore 2mo ago
    I am offering NFTs for https://ouruboroi.com/qr/9d1c15 https://ouruboroi.com/qr/9d1c15 How do you think I got this island?
- n64controller 2mo ago
  [dead]
- pseudohadamard 2mo ago
  I love that term "special vehicle", I'll have to use it more often from now on as a Universal Excuse: "It's not a fatal bug, it's a special vehicle". "It's not fraud, it's exercising a special vehicle". "It's not an empty excuse, it's a legitimate special vehicle".
whalabi 2mo ago
Is it just me or is this clearly written by Claude? The last heading is literally "The honest version" But otherwise throughout it just reads like Claude wrote it.
- camillomiller 2mo ago
  It is obvious. It‘s disgusting
  - notjustanymike 2mo ago
    It's not just obvious - it's disgusting. And that matters more than you think. - Claude
b3ing 2mo ago
1929 flashback? We already had a pandemic but no booming times
- Ekaros 2mo ago
  It has been amazingly booming if you have had money in any market... But poor are forgotten.
  - bluefirebrand 2mo ago
    Markets might be booming but society sure isn't. Everyone's miserable and burned out and broke.
    - kolinko 2mo ago
      it may depend on where you live and who you hang around with
      - Avicebron 2mo ago
        Which usually depends on how much money you make!
    - naveen99 2mo ago
      Except most people have general ai for free or $20/month.
      - bluefirebrand 2mo ago
        That's not really very useful if you're struggling to make rent or put food on the table :/
      - nyc_data_geek1 2mo ago
        You can't eat AI slop
- cyanydeez 2mo ago
jononor 2mo ago
Does anyone have a good article on the topic? This one seems rather LLM generated. Not sure the specifics can be trusted... Overall thesis is maybe right, but would like to understand this in a bit more detail.
- breve 2mo ago
  Linked from the article: https://news.bloomberglaw.com/tech-and-telecom-law/big-tech-ai-spree-revives-accounting-devices-that-toppled-enron https://news.bloomberglaw.com/tech-and-telecom-law/big-tech-...

104 points by arto 2mo ago

Discussion on source: https://news.ycombinator.com/item?id=48987863 https://news.ycombinator.com/item?id=48987863

And they are using the special debt vehicle tricks that made the 2008 bubble and the resulting crash. This is an economic nightmare: https://makingsense.quora.com/AI-Bubble-Seems-To-Be-Using-The-Same-Financial-Tricks-That-Led-To-The-2008-Crash https://makingsense.quora.com/AI-Bubble-Seems-To-Be-Using-Th...

solumunus 2mo ago
I’m glad we have a competent and trustworthy administration to guide us through this inevitable collapse.
- cwmoore 2mo ago
  I am offering NFTs for https://ouruboroi.com/qr/9d1c15 https://ouruboroi.com/qr/9d1c15 How do you think I got this island?
n64controller 2mo ago
[dead]
pseudohadamard 2mo ago
I love that term "special vehicle", I'll have to use it more often from now on as a Universal Excuse: "It's not a fatal bug, it's a special vehicle". "It's not fraud, it's exercising a special vehicle". "It's not an empty excuse, it's a legitimate special vehicle".

whalabi 2mo ago

Is it just me or is this clearly written by Claude? The last heading is literally "The honest version" But otherwise throughout it just reads like Claude wrote it.

camillomiller 2mo ago
It is obvious. It‘s disgusting
- notjustanymike 2mo ago
  It's not just obvious - it's disgusting. And that matters more than you think. - Claude

b3ing 2mo ago

1929 flashback? We already had a pandemic but no booming times

Ekaros 2mo ago
It has been amazingly booming if you have had money in any market... But poor are forgotten.
- bluefirebrand 2mo ago
  Markets might be booming but society sure isn't. Everyone's miserable and burned out and broke.
  - kolinko 2mo ago
    it may depend on where you live and who you hang around with
    - Avicebron 2mo ago
      Which usually depends on how much money you make!
  - naveen99 2mo ago
    Except most people have general ai for free or $20/month.
    - bluefirebrand 2mo ago
      That's not really very useful if you're struggling to make rent or put food on the table :/
    - nyc_data_geek1 2mo ago
      You can't eat AI slop
cyanydeez 2mo ago

jononor 2mo ago

Does anyone have a good article on the topic? This one seems rather LLM generated. Not sure the specifics can be trusted... Overall thesis is maybe right, but would like to understand this in a bit more detail.

breve 2mo ago
Linked from the article: https://news.bloomberglaw.com/tech-and-telecom-law/big-tech-ai-spree-revives-accounting-devices-that-toppled-enron https://news.bloomberglaw.com/tech-and-telecom-law/big-tech-...