this post was submitted on 04 Feb 2026
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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So you talk about Depression 2, but do you have any idea of what could possibly be the spark? You compare it to Enron, but Enron got had because they got audited. The AI bubble seems unparalleled in creating fake money from nothing, is there any limit to how long they do it? Tether still exists
I outlined it here a bit. Basically there's a lot of Wall St fuck fuck games - AI is just one of them - that's a tottering heap of dollar-denominated accounting entries for lies and trash. But also, the institutions have been white anted. Trump's pick for the next Fed chair is a bitcoiner who espouses Austrian economics - that is, literally the same gold standard economics that made Great Depression 1 worse.
I guess my confusion is this – at what point does reality exert any influence on the lies-and-trash accounting? What in the physical reality is the reason they can't just keep fapcircling the economy forever?
The bit where OpenAi and Anthropic need actual real dollars to set on fire.