During the rest of the year, florists or tulip traders, signed forward contracts before a notary to buy tulips at the end of the season… Tulip mania reached its peak during the winter of 1636–37, when some contracts were changing hands five times. No deliveries were ever made to fulfill these contracts, because in February 1637, tulip bulb contract prices collapsed abruptly and the trade of tulips ground to a halt.
Except unlike the Dutch who had a diverse trading economy and overseas empire, ours is crumbling and is largely underpinned on these massive speculative AI gambles on whatever Sam Altman says it will be worth in ten years time.
So very rational, much innovative market forces, totally different. Pay no attention to Blue Owl Capital’s $10 billion nervous flinch the other day, our data center economy is strong 💪
Except unlike the Dutch who had a diverse trading economy and overseas empire, ours is crumbling and is largely underpinned on these massive speculative AI gambles on whatever Sam Altman says it will be worth in ten years time.
So very rational, much innovative market forces, totally different. Pay no attention to Blue Owl Capital’s $10 billion nervous flinch the other day, our data center economy is strong 💪