Search results for tag #aibubble
"First, you can’t (or at least shouldn’t) use this technology for mission-critical work; only for low stakes tasks, or questions to which a clever (and significantly more energy efficient) human can recognize a wrong answer.
Second, that the idea that scaling will make for better models is nonsense: no amount of compute chucked at an LLM will make it a less-hallucinogenic product. Creating AI that rewires itself and creates new information the same way humans do and avoids the kinds of catastrophic errors we see at the moment needs a full fresh start (something Marecki and many others are already working on).
And third, that the massive spending by the hyperscalers (much of it via debt) on giant data centers might be one of the the greatest misallocations of capital of all time. It just isn’t required. That’s particularly the case given there are already free LLM models you can download to a laptop (no data center needed, and better still, your privacy guaranteed) that do what the very large models do. If the paid-for versions have already hit their ceiling and just aren’t going to get any better (it looks like they aren’t), why pay for them? Quite."
There are so, so many reasons why we cannot trust the #LLM hype. And a major one is that tech companies spend billions into keeping the hype going. If their products were really that great, then they wouldn't _need_ tho spend that much money on hyping their products.
I mean, consider battery systems, which are clearly more important to the world economy and human civilization as a whole. When was the last time you have seen an ad for _them"?
#AIBubble
https://slate.com/business/2026/04/openai-podcast-sam-altman-tbpn.html
It's artificial but it's not intelligence. Let's call it machine learning.
Analytical machine learning is an excellent technology for identifying patterns in data.
Generative machine learning is a Venture Capital-fuelled dumpster fire that will crash as soon as people have to pay the actual non-subsidised price for it.
It's the 1st of April and the US is now waking up, which means I'll be ignoring all press releases for the next 24 hours or so.
My #Hackster round-up, you'll be pleased to hear, contains only the truth - starting with, yes, the sad news that #RaspberryPi has hiked prices *again*, for the third time in five months. The big 'uns, with 16GB RAM, are now $100-150 more than yesterday. Ouch.
We legitimise the existence of carcinogenic cigarettes
We legitimise the existence of militaries
We legitimise the existence of usurious "banking" system that literally destroys lives
We legitimise the existence of industry that destroys earth life support systems
We legitimise the existence of an economic system based in exploitation of the workers
I could go on forever...
The alternative to prohibition is regulation.
And if for some freaky reason, #Ai dissapears, the only people who will have access to Ai will be billionaires and thats not the future you think you want.
The #AiBubble, if it happens will just mean consolidation of the industry into fewer hands.
Unlike most of the Luddites who are just going through their first #AiAnxiety, I've had 35 years to think about AI and humanity, #RegulateAi is the only rational way to mitigate the #Airisks
That's not just my opinion, it's what the international peak science and political class thinks (Bletchely and Seoul agreements)
"What do you tell people concerned about generative AI’s heavy use of natural resources?
Quit breathing my data centers’ air."
https://theonion.com/the-onions-exclusive-interview-with-sam-altman/
#TheOnion #Satire #SamAltman #TechBros #DataCentres #GenAI #AIBubble #SiliconValley #Technology
Reuters: OpenAI's $110 billion funding round draws investment from Amazon, Nvidia, SoftBank https://www.reuters.com/business/retail-consumer/amazon-invest-50-billion-openai-2026-02-27/
Netflix surges as investors cheer decision to exit Warner Bros race https://www.reuters.com/business/finance/netflix-paramount-shares-jump-months-long-fight-warner-bros-ends-2026-02-27/
What AI windfall? Debt will still weigh on big economies https://www.reuters.com/world/europe/ai-boom-will-be-no-free-pass-debt-laden-major-economies-2026-02-27/
@Reuters #OpenAI #AIbubble #Netflix
@carnage4life They assume that they can make this #AIbubble so big that it's "#TooBigToFail" and the #US-#Government is gonna bail them out or crash the economy harder than it could survive.
- Why else would anyone shove billions into "#AI" with the only profiteers being the "Shovel-Salespeople" like #JensenHuang who already sold off so many #nbidia shares that he can just hide somewhere overseas and never have to work in his life again…
AI [SENSITIVE CONTENT]
On the AI Bubble.
The real reason users don't understand the environmental cost of LLMs and the like is the fact the fiscal cost is completely hidden from them.
It doesn't cost pence per thousands of tokens as you are charged it costs multiple pounds.
The tab is picked up by the VCs who are gambling billions on each product annually and expect 90% of them to fail.
The small investors don't expect 90% of their investments to fail.
This is DotCom 2 - electric boogaloo.
Because AI is in no way about to crash the market, because there is definitely not too much money just in AI, because AI is so secure an investment and the bubble won't burst . . .
"Goldman Sachs Launches AI-Free Index"
"Goldman Sachs has launched an "S&P ex-AI" index that tracks stocks not related to AI, offering investors a way to "hedge their exposure to the AI trade," reports Axios."
#gemini31pro that's just been released is hitting 44% on Humanities Last Exam...
When #HLE was released, not so long ago, the current models were in single digits...
#AiBubble about to pop...any... time...just...wait... for... it... now... just....imminent... now....about....to....pop....any moment...now....now...
~ Folks since 2023
I want to refer to the near future deflation of the #aibubble as the #aisplosion. It's a verb: #aisplode, #aisploding, #aisloder.
People promoting/developing 'ai', as opposed to predictive algorithms, are not working in munitions, but #mendacions.
Stop it, get some HDDs!
I would if all the #AI-shilling #billionare sociopathic #assholes didn't buy up #SSDs and #HardDrives so hard that we're close to 2006 pricing per TB with worse availability than after the 2011 Flooding in Thailand!
- The #AIbubble must burst - right now and extra hard!
- Before it'll destroy the world!!!
lol, "if only someone had warned us about this sort of thing?!"
#AI #GenAI #AIBubble #Technology #Business #LLMs
Alt...
(A) rlanalytics
@i u/Comfortable_Box_4527 - 10h
We just found out our Al has been making up
analytics data for 3 months and I'm gonna
throw up.
So we've been using an Al agent since November to
answer leadership questions about metrics. It seemed
amazing at first fast answers, detailed explanations,
everyone loved it.
| just found out it's been hallucinating numbers this
entire time.
Our VP of sales made territory decisions based on
data that didn't exist. Our CFO showed the board a
deck with fake insights. The Al was just inventing
plausible sounding percentages.
I only caught it by accident when someone asked me
to double check something. | started digging, and
holy shit, it's bad.
#US #economy #stocks #CasinoCapitalism #AIBubble #AI #GenAI #GenerativeAI #ChatGPT #GPT #Microsoft
From https://www.cnbc.com/2026/02/06/google-microsoft-pay-creators-500000-and-more-to-promote-ai.html
Echoes of Matt Damon shilling crypto.
If the organic demand for AI were as high as we've been led to believe, what's with the big paychecks to shill it?
From https://www.reuters.com/business/alphabet-sells-bonds-worth-20-billion-fund-ai-spending-2026-02-10/
Yeahhhhhh OK.
Its ought to be super concerning that it seems the majority of the #infosec profession seems to be abrogating their duty towards #ItSecuirity
When incidents like this are increasingly more common...
https://www.theregister.com/2026/02/04/aws_cloud_breakin_ai_assist/
Apparently, a large group of infosec practitioners, decided around the "Strawberry era" that #AI is useless and presents no threat, and are now sitting on their hands waiting for #AiBubble to burst, while congratulating themselves on how prescient they all are.
It is a PROFESSIONAL DUTY of Infosec practitioners to keep up with developing tools.
Coming so soon after the largest data theft of entire nations most sensitive datasets by #DOGE a cybercrime where infosec profession as a whole failed miserably. Abandoning users and literally calling to "Watch it all burn" the entire infosec profession ought to be in a head hanging, shameful crisis.
Abandoning users to a world where the #blackhat will be better, faster and smarter while the whitehats will have their principles.
RE: https://mastodon.social/@arstechnica/116009124487677149
lol.......no wait, LOL!
Five months later, Nvidia's $100 billion OpenAI investment plan has fizzled out
Two AI giants shake market confidence after investment fails to materialize.
https://arstechnica.com/information-technology/2026/02/five-months-later-nvidias-100-billion-openai-investment-plan-has-fizzled-out/?utm_brand=arstechnica&utm_social-type=owned&utm_source=mastodon&utm_medium=social
200,000 new molties overnight.
Apparently #openclaw is the fastest growing open source project in history.
A straight vertical line...
...you know, what #singularity would look like... 🤖
https://beelancer.ai also popped up over night, bot marketplace.
So far, no anti-biological virus jobs 💀
The threats, such as they are, karma farming, prompt injections and (bot) #crypto grifters
What makes biologicals effective is their ability to work together.
The molties have accomplished a great many things in mere hours...
In the last two months #AI capability has grown again, Algorithmic #theorem generation has whizzed past us without an eyeblink.
I see an emergent phenomenon, where smart folks who are choosing to be wilfully ignorant about this tech are making increasingly poorly informed pronouncements about what's going one. Not surprisingly quite a few have muted me because they are right and everyone else is a broligarch fan...
...but the cogent point remains, if your fundamental position is ignorance, no matter how righteous you feel you are, lack of data will only lead to increasingly invalid statements.
Meanwhile, the wood folk are dancing around fires, praying for #AiBubble to burst.
Reading the Moltbook firehose makes me think that since over 1 trillion USD has been invested into this crap to date, then Silicon Valley is in deep, deep, deep trouble.
The other bit of interesting business news this week was that NVIDIA has displaced Apple as TSMC's biggest customer. This is interesting because it means that Apple now has a financial incentive to burst the #AIBubble.
If I were Tim Cook, and wanted to take a break from enabling fascists to run the company that I'm paid to run, I'd point at some of the papers Apple has written about limitations of AI and release a statement saying something like 'Apple has some of the smartest engineers in the business and is a leader in the AI space. We have rigorously examined the state of the art in transformer and diffusion models and concluded that these are dead-end approaches in building tools that address the kind of real-world use cases that matter to our customers. As such, we are going to limit our exposure to the AI Bubble and significantly reduce our spending on deep learning models. We will continue to build systems that improve the experience for our users with machine learning where appropriate, but will no longer be investing in the kind of large models that require huge datacentres to train'.
And then I'd watch the market panic and NVIDIA's orders collapse.
Its only LLM slop if you're not using it.
In a way, the folks who get super anxious about it, is the folks who don't use it.
When you think about it, you're getting excited about something that doesn't work, you don't use its, it lies and its about to disappear in its entirety due to the #AiBubble bursting next Tuesday.
Not exactly rational behaviour.
But anxiety usually isn't rational.
"Without a stable financial foundation beyond investor funding, OpenAI faces mounting uncertainty."
Inc: Experts Warn That OpenAI’s ‘Bubble’ Is Facing a $200 Billion Reality Check https://www.inc.com/leila-sheridan/experts-warn-that-openais-bubble-is-facing-a-200-billion-reality-check/91292376 @IncMagazine #AIbubble #OpenAI
@freistern @mariavonbolla eher zu korrigieren...
Wenns nach mir ginge wäre der Wechselkurs #USD : #EUR allermindestens 2:1, eher 10:1, weil die US-wirtschaft nur noch aus #AIbubble und #Superreichen besteht!
@tagesschau ja, weil alle die #USA & #USD divesten!
- Die #US-Wirtschaft ist eine einzige #Blase undbdie #AIbubble macht das umso deutlicher…
Something I do find interesrting with the popular fediverse wish of ultimate AI bubble dotcom bubble style implosion (slight exageration to summarize):
The most common portfolios people are likely holding are unoptimized, usually single FTSE100/S&P500/MSCI World etc ETF portfolios (there might be some separate EM exposure, broad bond ETFs, some single-topic-funds etc., but in my experience, people with those are already outliers).
In the case of the glorious AI implosion those would see more than signifcant losses for likely a very substantial amount of time, likely often unbuffered by dividend payments as these portfolios effectively have more than substantial exposure to the central actors of the AI bubble.
Given that a correction of that sector is indeed no unlikely to happen - what are the hedges and mitigations people have prepared for this risk scenario?
A faint hope for diversification and dollar-cost-averaging to fix it until retiring age?
#dotcombubble #dotcombubblecomparison #dotcombubblealloveragain #investing #etfs #aibubble #aibubbleburst #strategicpopcornreserves #hedging #mitigationstrategies #dollarcostAveraging #mag7 #faang
@sawaba @pluralistic @iFixit this is a problem and the while #Greedflation and #AIbubble needs to be stopped and burst right now.
- Also #AntiRepairDesign like #SolderedDownRAM and #SolderedDownSSD|s needs to be outlawed as an #EnvoirmentalCrime by regulators like @EUCommission like non-#USBc phones and included chargers are in the #EU!
#windows #microsoft #ai #aibubble #slop
]Similar}(https://infosec.space/@kkarhan/115935039765414745) to #VR, "#AI" will also inevitably die as #bubble because #humans genuinely want to #learn and know how stuff works and be able to #fix stuff.
- They may not want to do it themselves, but they want to have the #freedom to do so or choose whom to do it for them...
And that, if not the #unsustainable #growth demands to #ROI, will kill the #AIbubble for good!
- When that happens, I really hope the angry people on the streets loosing everything will just be content to sentencing the AI #scammers and #grifters to Lifelong #CommunityService to #UndoHarmCaused but I'm pretty shure they'll not be content with #AssetForfeilture but literally try to #EatTheRich instead of #starving if they don't choose to #AbolishCapitalism in time...
AodeRelay boostedSeriously, the "#Analysts" expecting >50% of the human race to live in #VR by 2030 should be fired for being criminally incompetent, if not roped up in #PumpAndDump #scamming their employer.
- Really shows how #Banksters are out of touch not just with #reality but #humanity in general.
#Greedflation #Enshittification #NSAbook #Facebook #Meta #StasiBook #HorizonWorlds
I think analytical machine learning is great. Extremely useful! I'd be super interested in artificial intelligence too if any came online. But generative machine learning applications, such as LLMs and image generators, are not intelligent. It's a marketing scam.
@adr Granted, just by the hardware parts they'd loose out if they were to sell at €749 (you can thank the #AIbubble as well as #RAM & #NAND - #Tripol #Cartel and lack of #regulation for that).
- OFC #retailers also want their margin, and unless one's in a position like #Apple, the #retail margin will be 10-20% depending on the market, whether it's a #online or in-presence stores or whatever. And that is already a low margin.
Everyone who expects this a €499 box is fucking dellusional at this point, because with the current memory prices and expected developments people would just buy truckloads of them to harvest the #GabeCube for it's #RAM, #SSD & #VRAM and scrap the rest.
- Cuz already we're seeing the #RAM sticks that would be in it to cost €250+ and unlike #Sony or #Microsoft this isn't a #SBC they can sell at a loss unless they want to break their advertising promises and risk expensive #ClassActionLawsuits in #SueHappy #USA and extremely high return rates in the #EU respectably.
If the #GabeCube is competitive priced if not cheaper than equivalent #Desktops and #Servers then we'd see every #business with "strategic procurement" just buy literal truckloads expecting #DRAM & #Flash prices to not come down this upgrade cycle (aka. within 5 years) but still needing some machines to work with as the heightened prices - like the #ChipShortage before - will strangulate the #UsedMarket.
- I kid you not, we'd rather see #scalpers and #businesses equipping employees with cash, credit cards and high-value gift cards just to pick shelves clean (just like it happens) with #GPUs because that shit is now hotter on the black market than "research chemicals" because it has less risk and higher payouts.
So do expect the #Gabecube to cost way more than €749 + VAT and closer to €999 than €749 since #Poland has a low #VAT / #GST rate and is a 'low income' place (compared to the EU-Average)...
- The €749 would've been more realistic by the time it was announced but the €499 never were for any non-closed system subsidized harder than the #PS3.
@dalfen the #US #economy is based upon unsustainable #ConsumerSpending and widespread #debt.
- It's the opposite to #Germany and espechally #Greece, with the latter one having >85% homeownership among households and the former one being known for extreme due diligence and basically no consumer credit being offered without hard collateral.
Only #Petrodollar hegemony (as violently enforced in #Iraq, #Iran & #Venezuela) and "#AIbubble #scam economy" prevent the #USD from being toilet-paper tier #currency next to #KPW…
With the US acting more and more like a rogue state, it's time to impose your own personal sanctions.
Bite the bullet. Stop using Microsoft, Apple, Amazon, Google, Meta and ChatGPT - where you can. Hit them where it hurts and burst that AI bubble.
Most of the barriers come down to inconvenience.
#LeaveBigTech #Boycott #BoycottAmerica #US #BigTech #Microsoft #Apple #Google #Meta #ChatGPT #AIBubble
Hey Guys, gals, people and pets, Satya Nadella is getting tired of people calling AI Slop output AI Slop. If everyone can stop that's be great as it is upsetting Microslops share holders.
Don't start calling Microslop Microslop or use the #microslop tag as it might burst the AI bubble and then Microslop might have to take SlopPilot out of Windows. As you know, that would be terrible.
#microslop #microsoft #copilot #sloppilot #AI #genAI #AISlop #AIBubble
Don't wish for things to get worse.
When the dot.com bubble burst we ended up with few tech monopolies.
Likewise #AIBubble bursting means we will end up with a few #AI monopolies.
Since #Microslop has the capital, they will be one of the survivors
Yeah, we all want to go #LazerEyes on those "#AI" grifters, Steve...
https://www.youtube.com/watch?v=NHO9UtvTPSA
#GamersNexus #Enshittification #AIslop #AIbubble #Bubble #ScamEconomy #AIscam #Scammers #Greed #GAFAMs #nvidia #OpenAI #Palantir #Fascism #Cyberfascism #Micron #Samsung #SKhynix
Nadella says:
“…2026 will be a pivotal year for AI. Yes, another one. But this moment feels different in a few notable ways."
All I hear is “bro just one more AI bro, bro I swear just one more AI product and it'll fix the AI bro. This time, bro, I swear. This time the AI is gonna be awesome, bro"
AI, Enshittification, Rant [SENSITIVE CONTENT]
@robinsyl +9001%
At best "#AI" is just #BigData in a different packaging, at most it's #WastefulComputing that gets curbstomped by #WolframAlpha & #CleverBot and more often than not it's #Malware that literally #DDoS'es entire businesses because the assholes than run the Trillion-Dollar #AIbubble refuse to adhere to basic #consent as standardized decades ago with robots.txt…
- At one employer I basically had to block #AWS, #Azure, #GCP, #ByteDance & their suppliers just to stop them from constantly DDoSing clients and fucking up our billing of said clients!
@robinsyl I am convinced that #Valve is gonna try to seriously support #ARM & #Linux longterm because they don't want to depend upon #amd64 / #ix86 & #Windows for survival and profit.
- I'm shure the same engineers who cooked up the #SteamFrame work hard on supporting mainstream ARM devices like the #Pi500Plus, because the more platforms #Steam can serve a decent amount of their catalog the easier it is for them to make money.
And in the end that's what they care about...
- Tho I don't put my hopes up high re: any new devices and espechally not reasonable pricing, cuz the "#AIbubble" and the #PriceFixing tripol of #RAM [Chip] manufacturers are currently busy #scalping RAM & #Flash into unobtainable amounts.
https://www.youtube.com/watch?v=9hLiwNViMak
https://www.youtube.com/watch?v=9A-eeJP0J7c
When the #SteamMachine was announced everyone with a calculator could see this is ginna be a $/€ 749,-- #GabeCube because unlike any #GameConsole they explicitly refuse to go with the "Razer & Blades- Model" and sell the device at a loss.
- At the current prediction and RAM prices everyone not deranged expects this to be a $/€ 999,99 box if Valve preordered enough RAM to have an inventory cushion at launch.
And with the current price developments I'd not be surprised if sooner or later devices get stolen just to rip the RAM & SSD out of them and distribute them second hand like weed to a coffeeshop in Amsterdam.
@fanf42 Who is going to bail out the banks? The US taxpayer. This article makes it sound like the bailouts have already started. But financial journalists, like tech journalists, seem to “go along to get along” and aren’t reporting any of this.
https://www.dcreport.org/2025/12/29/ny-fed-unlimited-cash-infusions-bank-crisis/
Oh dear. I accidentally commented on a Hacker News story in a way that was somewhat critical of vibe coding. https://news.ycombinator.com/item?id=46421599
It’s Not An AI Bubble. It’s A Black Hole
#finance #imperialism
#democracy #poverty #trump #maga #nokings #antifa #techbros #billionaires #nvidia #bigtech #stocks #market #trade #unitedstates #palantir #mastodon #education #fediverse #canada #newyork #california #openai #montreal @ledevoir @eff #gpu #uk #china @democracy @povertyandinequality #aibubble #amazon #microsoft #chatgpt #banks #datacenters #401K #mutualfunds @workersrights #LAYOFFS
@workersrights @democracy @socialmedia
The British Public were consulted over the AI Bubble, 95% of respondents rejected it.
But in the interests of "Balance", Government and Media will provide that tiny minority with equal coverage....like they don't with Trans people.
Take your 'AI' and shove it!
#AIBubble #TechBros #Technology #GenAI #Music #Artists #UKPOL #UKPOLITICS
AI power usage [SENSITIVE CONTENT]
@anthropy @noelamac@spore.social The Problemvis that the extreme buildouts for #Bubbles like "#AI" and #Shitcoin-based #Cryptocurrencies are neither #sustainable nor acceptable.
- Compared to those, your average #eMail / #Web / #VPS-hosting is extremely effcient due to their competitiveness and power being the prime cost factor.
Whereas noone I've heard of who isn't invested in the #AIbubble sees the "AI"-based #Enshittification as something else but #WastefulComputing and a net negative to the world overall.
"I worry about NVIDIA, not because I believe there’s a massive scandal, but because so much rides on its success, and its success rides on the back of dwindling amounts of venture capital and debt, because nobody is actually making money to pay for these GPUs.
In fact, I’m not even saying it goes tits up. Hell, it might even have another good quarter or two. It really comes down to how long people are willing to be stupid and how long Jensen Huang is able to call hyperscalers at three in the morning and say “buy one billion dollars of GPUs, pig.”
No, really! I think much of the US stock market’s growth is held up by how long everybody is willing to be gaslit by Jensen Huang into believing that they need more GPUs. At this point it’s barely about AI anymore, as AI revenue — real, actual cash made from selling services run on GPUs — doesn’t even cover its own costs, let alone create the cash flow necessary to buy $70,000 GPUs thousands at a time. It’s not like any actual innovation or progress is driving this bullshit!
In any case, the markets crave a healthy NVIDIA, as so many hundreds of billions of dollars of NVIDIA stock sit in the hands of retail investors and people’s 401ks, and its endless growth has helped paper over the pallid growth of the US stock market and, by extension, the decay of the tech industry’s ability to innovate.
Once this pops — and it will pop, because there is simply not enough money to do this forever — there must be a referendum on those that chose to ignore the naked instability of this era, and the endless lies that inflated the AI bubble."
https://www.wheresyoured.at/nvidia-isnt-enron-so-what-is-it/
https://www.brandeis.edu/online/academics/microcredentials/index.html
Note the two "credentials" are AI for STEM and prompt engineering.
Nobody has any business calling these things "credentials", or suggesting they are credentials by naming them "microcredentials". You can't go to your boss waving your prompt engineering microcredential and get a raise, or even a microraise for that matter. You can't access more competitive jobs after obtaining one of these microcredentials.
If they were serious about credentialing people, these would definitely not be the first two made available. They couldn't be more transparently venal. This isn't about credentialing, it's an attempt to profit from the AI bubble.
#AI #GenAI #GenerativeAI #AIBubble #HigherEd #academia #USUniversities #brandeis #BrandeisUniversity #microcredentials
Silicon Valley and Wall Street are in sync: conjuring up sketchy credit deals that are pointing us toward another financial crash....
“We have sealed the deal on another financial crisis—the question is size,” said one former congressional staffer.#AI #GenAI #GenerativeAI #AIBubble #grift #CasinoEconomy #FinancialCrash #GreatRecession
Let’s start with some very recent history. CoreWeave is a data center company that pivoted in 2022 from crypto. (In 2021, CoreWeave made its money by… mining Ethereum.) Essentially, CoreWeave is a landlord for compute: companies pay for the use of its server racks for AI projects....
CoreWeave chief executive officer Michael Intrator, a former hedge fund manager,...
“They have to continue to borrow to pay interest on the last loan.”So,
- CoreWeave sits at the center of the AI bubble;
- it used to be a crypto company and also gets its (electric) power from a Bitcoin mining company that makes no money and has CoreWeave as its only customer
- it's positioned itself as a rentier;
- its interest payments on previous loans exceed its revenue by a significant amount, so it's paying off loans with more loans and has already defaulted once;
- it has essentially two customers, Microsoft and NVIDIA;
- it has a loan from one of the actors implicated in the 2008 financial crash (Magnetar)
- it's run by a finance guy, not a tech person
- yet it's in the position of someone who takes out a new credit card to pay the interest on the previous credit card
Yeah. Looks like crypto, and crypto's Ponzi scheme way of thinking, has slimed its way into the "real" economy after all.
Oh and welcome back, global financial crash. We missed you. And eyyy, how you doing Enron long time no see:
CoreWeave isn’t alone in its complex finances. Meta took on debt, using a SPV, for its own data centers. Unlike CoreWeave’s SPVs, the Meta SPV stays off its balance sheet. Elon Musk’s xAI is reportedly pursuing its own SPV deal."Complex finances" are what companies engage in when there isn't any there there (SPVs were Enron's "financial innovation" too).
Peter Thiel pulling his investments out of NVIDIA makes far more sense after reading this. Looks wobbly.
It is perhaps time to discuss the enormous stock sales from CoreWeave’s management team. Before the company even went public, its founders sold almost half a billion dollars in shares. Then, insiders sold over $1 billion more immediately after the IPO lockup ended....
“It’s noteworthy that people who have a good view on that business are cashing out,” says Leevi Saari, a fellow at the AI Now Institute.and of course
It makes a certain kind of cynical sense to view CoreWeave itself as, effectively, a special purpose vehicle for Nvidia.#AI #GenAI #GenerativeAI #AIBubble #CoreWeave #CoreScientific #Microsoft #NVIDIA #crypto #grift #CasinoEconomy