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…

  • Goodbye_bluesky@lemmy.world
    971·
    7 days 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
        50·
        6 days 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). If they can’t work out how to make a profit after $2T of capex, more money on the furnace isn’t going to help.

        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 indebted 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).

        • coyootje@lemmy.world
          3·
          5 days ago

          you can never confidently predict they won’t do something stupid

          I’d argue you can predict they will do something stupid because that’s basically all they’ve done ever since they took office

          • vaultdweller013@sh.itjust.works
            10·
            6 days ago

            Ideally it all gets sold off to pay debts, but the funniest thing would be that its forcibly liquidated after creditors get to the copper sniffing crack head stage of debt repayment and the whole things gets torn apart.

    • Formfiller@lemmy.world
      3·
      5 days ago

      If we have a revolution and round capitalist class up and arrest them the world will be instantly better

    • CharlesDarwin@lemmy.worldEnglish
      2·
      5 days ago

      I doubt it. I could see something like OpenAI and Anthropic bought up by someone else. Google, MS, Oracle?

      I doubt any of these people will ever miss a meal or have no roof over their head.

      Even if these people were to be worth 1/100th of what they are worth now, they’d still be plenty comfortable.