The investor who bet against the US housing market in the run-up to the 2007 financial crisis has now placed a significant wager on the collapse of the artificial intelligence (AI) boom.
The investor who bet against the US housing market in the run-up to the 2007 financial crisis has now placed a significant wager on the collapse of the artificial intelligence (AI) boom.
1998 didn’t have retail investors, meme stocks or Bitcoin. The entire market turned into a carnival, I’m not sure old rules apply. For fucks sake people are trading futures on NFT’s.
It’s the same game, different rules. People nowadays don’t care about the shit that made the companies picked by Berkshire Hathaway successful, like brand recognition or quality, they are about, what, glitter and noise? It’s naked gambling on how insane it can all get, and I think there’s even odds on the bubble going nuclear and us all getting paid with NvidiaBux a year from now.
Bitcoin is basically just gold but digital. It’s sucking away investment capital; one of the chief criticisms against it is that deflation discourages business investment.
Your investment in mutual funds is also an investment in Nvidia which is also an investment in OpenAI. But bitcoin/gold isn’t contributing to the value of anything else.