Millennials out here preparing for their 5th once in a lifetime market crash.
I'm just waiting for cheap 60xx series gpus.
I feel like I'm taking crazy pills.
Let's see 2000, 2008, 2020, what am I missing?
History rhymes so 202...
I went through the oil embargo 70s, a couple of Reagan recessions, a Bush I recession, all before 2000, when Republicans really got their nation-destroying chops together for some proper, world class economic irresponsibility.
Those weren’t on the scale of the housing and Covid crashes. Dot con was pretty bad, but still nothing like 2007/8
The 70s was really terrible, and lasted nearly an entire decade, but yeah, everything between that and 2008 was secondary.
Still, it demonstrates that the economy is usually at its worst under Republicans, and disastrous under MAGAs.
They have the self-described reputation as economically responsible, but in reality, they always screw up the economy. Carter, Clinton, Obama, and Biden all entered office with an active Republican economic downturn of their own making, and we're forced to clean up the Republican mess before they could get their own agenda underway.
Biden not only had an economic recovery to navigate, he also had to launch an emergency Covid vaccination program, and he accomplished both ahead of schedule. If he had dealt with the severe national security threat of MAGA, and crushed them, and kept them out of office under the 14th Amendment, he'd be one of the Top 10 presidents of all time. Instead, his Covid/Economic successes will be forgotten, and he'll be in the bottom 15.
Holy shit. That’s almost one Elon Musk’s Salary dollars
That's more or less how I deal with any economic numbers these days. Just one mans salary. No big deal.
He eventually buys up all ai companies for nickels on the megadollar and copy strikes all unauthorized ai providers.
The only resistance left is the decentralised group of people running outdated and decensored LLM's for erotic RPG.
We're doomed
If only the AI could have given them a heads up.
Just as accurate as tarot cards...
Sorry, you want the Tower here.
It’s one of my favorite cards for symbolism, because the story is so apparent on the card. People jumping out of a burning building to their peril.
Hey man, I do tarot, read it, then ask my AI what it thinks. It feels real.
/s
…no but for real, I like do draw tarot, and the AI has helped me get better at reading. It’s for funsies; I don’t take it seriously.
Yeah bro, I burnt a forest down yesterday, but it's cool, I did it for the funsies
That's awesome bro, I love gender reveal parties 😎
POP THAT BUBBLE
POP THAT BUBBLE
POP THAT BUBBLE
The most obvious global collapse of a stock
It always amazes me just how stupid all these billionaires actually are. It just highlights the fact that they did not actually "earn" that wealth, in the first place. If it were truly a matter of talent and skill, they wouldn't be crashing the economy every five to ten years...but here we are, for the fifth(?) time in the last few decades?
Crashing the economy is only stupid if you don't have enough liquidity to capitalize on it. That or if you actually give a shit about people.
The crashes are deliberate. It allows them to scoop up infrastructure for pennies on the dollar. It's not a coincidence that the largest ever upward transfer of wealth occurred during COVID. That was the elite consolidating their holdings. And evidently, they're not exactly satisfied yet and want even more.
You may think it's stupid but these people are still going to make ass loads of money out of this entire ordeal. Because the entire system is rigged in their favor.
Its like the movie Big Short where despite news of bankruptcies stocks kept going up for a long time. It was when the banks shored up their own shorts that they actually let the market crash.
They aren't stupid, they are gambling and they toss their weight to stack the bet in their favor long enough so that they can cash out and not be left with the bag when it crashes.
Every recession, richs get richer and we get poorer.
don't forget, the once in a lifetime stock market crashes. we're on, what, 5 now? in the last couple decades.
Whew finally
Finally ... move on to something else.
Honestly, I gotta hand it to Apple. They never jumped on the hype train for AI as bad as all these other companies because they were smart enough to realize it was temporary and they are just chillin' right now. Sure they did a few things here and there, but they didn't try and change their entire business model around AI. When this bubble does pop, I'm sure Apple will be the one on top again.
What happened was they did the standard thing of being really far behind in terms of software and were not able to compete. Apple is not a software company it's a hardware company with delusions of grandeur. If a software feature is good enough they'll eventually steal it and claim that it's some major innovation on their part but they will never get away from the fact that they brought the atrocity that is iTunes into the world.
was it a clever tactical ploy to avoid the AI hype train? Or was it that Apple’s culture just can’t pivot fast enough to successfully operationalise new/emerging technologies?
Apple has invested heavily in infrastructure that will make every iPhone and app on the store transparent to an AI running on bespoke silicone designed for the task. Much like Windows, Apple foresees a future where AI is a substitute for the GUI.
https://www.archyde.com/apples-ai-integration-a-deep-dive-into-iphones-future/
Yeah, just like voice assistants were supposed to.
I think it was unintentional. They didn’t hop on in time and were left behind. Then they tried rushing and put out a half baked AI product. And now they’re using Gemini for their AI because they can’t catch up.
Apple is always a decade behind, though. It isn’t an innovator anymore.
When I lose hundreds of billions of dollars, I have to go to bed without supper.
Oh Let it burn, let it burn, let it burn, oh won't you let it burn, oh won't you won't you let it burn, oh let it buuuuurn oh won't you let it burn, oh won't you let it buuurn! 🎵
Bubble bursting....
People who are somewhat liquid going to do some bargain shopping.
The good ol' pump and dump.
(Btw, guys, A.I. threat is way overblown.)
A.I. threat is way overblown
This assumes AI will be all knowing and all powerful and will turn to evil.
But bad, incomplete, dreaming AI unleashed by CEOs, in search for more profit margins, are a real threat. Imagine air traffic control under AI that just screws up and cause planes to collide. Or AI robots who go awry.
This is what Trump wants to justify lowering rates. Trump wants catastrophe and terror to claim hes the only one who can fix it. When in actuality he caused the problems, has declared 7 bankruptcies in his business Career, and has now bankrupted America by having a shutdown and not paying it's employees, snap programs, cancelation of USAID and many much more.
You mean the big short guy will earn money? Interesting. Hopefully that means I also happen to earn money as well.
... and that's just the warmup act!
Good
From the article:
Nvidia declined 7%, Oracle, and AMD dropped 8.8%, Meta and Microsoft dropped around 4%.
These are amounts that stocks often fluctuate. Percentages are what matter. Phrasing it as a big dollar value was lost is always manipulative framing.
The market is big. There are more than a few shares. A small change becomes a big number when multiplied by the size of the entire market. $800 billion is basically meaningless.
The numbers are fake anyway. Market cap is the value if all existing shares were sold at the current price. Nonsense. Selling all the shares would change the price in some way.
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