you can maintain make-believe “all good nothing to see here” for only so long until the reality becomes undeniable. given that cost of living crisis is already running roughshod through the economy - it’s not a good sign and it will get worse.
That’s what I’m saying, it’s probably not going to be a crash, just the cost of living crisis on steroids. My moneys still on mass hunger riots next year
Even last year I would’ve said “hold ya horses, pardner” but these days I think you’re onto something. The way big tech keeps on screwing everybody while other parts of the economy actively sink is concerning.
As someone that has been through both of these crashes, 17 times the size of the .com bubble is really, really bad. I don’t think we can even conceive of how big a hole this is going to make.
don’t worry the military tech bubble will get it covered)
jokes aside - i’m working in consulting and lots of those AI startups are straight up money laundering operations that don’t really need neither market research nor talent pool studies - pretty much everything is for show and next to zero real longterm planning. A rude awakening is long overdue for these hotshots.
One time I had a misfortune to ask what one of these startups is going to do when their product will fail to gain traction (it was yet another grammar check sentence finishing app like Grammarly) - how are they gonna pivot and their CEO laughed at me and said “we are going to work hard to make it a success” which is like super stupid thing to say when your project is in the superoversaturated market affected by cost of living crisis with customer engagement on a consistent decrease for the last 3 years and your product costs almost the same as the market leader but is also way worse.
Ever since the 90’s, I’ve often wondered if some of these bubble companies are just the living end of the “eat the rich” philosophy. I can see no more practical a way to achieve this, than to convince investment capital to empty their wallets, funneling it straight into the pockets of dozens if not hundreds more people. It’s hardly Robin Hood, but it’s also cash that’s no longer hoarded at the top.
Plus, we also know that a worthwhile goal is to not go the distance, but simply become a tasty snack for a bigger company before you go bankrupt. This lets your flimsy business model and weak patent portfolio become someone else’s problem.
it is like that with a lot of Ukranian startups - hotshot all the way then sell off and it fucks shit up for others who actually want to turn their startups into a long-running expanding businesses.
The crash is going to be spectacular.
How will we crash if the White House controls the Fed? This is gonna be a different kind of financial catastrophe.
you can maintain make-believe “all good nothing to see here” for only so long until the reality becomes undeniable. given that cost of living crisis is already running roughshod through the economy - it’s not a good sign and it will get worse.
That’s what I’m saying, it’s probably not going to be a crash, just the cost of living crisis on steroids. My moneys still on mass hunger riots next year
Even last year I would’ve said “hold ya horses, pardner” but these days I think you’re onto something. The way big tech keeps on screwing everybody while other parts of the economy actively sink is concerning.
Double check your investments and be sure none of them are reliant on AI for future operative certainty.
Haha joke’s on you, I can’t afford to invest
Facts
As someone that has been through both of these crashes, 17 times the size of the .com bubble is really, really bad. I don’t think we can even conceive of how big a hole this is going to make.
don’t worry the military tech bubble will get it covered)
jokes aside - i’m working in consulting and lots of those AI startups are straight up money laundering operations that don’t really need neither market research nor talent pool studies - pretty much everything is for show and next to zero real longterm planning. A rude awakening is long overdue for these hotshots.
One time I had a misfortune to ask what one of these startups is going to do when their product will fail to gain traction (it was yet another grammar check sentence finishing app like Grammarly) - how are they gonna pivot and their CEO laughed at me and said “we are going to work hard to make it a success” which is like super stupid thing to say when your project is in the superoversaturated market affected by cost of living crisis with customer engagement on a consistent decrease for the last 3 years and your product costs almost the same as the market leader but is also way worse.
Ever since the 90’s, I’ve often wondered if some of these bubble companies are just the living end of the “eat the rich” philosophy. I can see no more practical a way to achieve this, than to convince investment capital to empty their wallets, funneling it straight into the pockets of dozens if not hundreds more people. It’s hardly Robin Hood, but it’s also cash that’s no longer hoarded at the top.
Plus, we also know that a worthwhile goal is to not go the distance, but simply become a tasty snack for a bigger company before you go bankrupt. This lets your flimsy business model and weak patent portfolio become someone else’s problem.
it is like that with a lot of Ukranian startups - hotshot all the way then sell off and it fucks shit up for others who actually want to turn their startups into a long-running expanding businesses.