Fascinatingly, they seemingly buy now interest on each other.
So when this goes down, it goes down as a whole.
this post was submitted on 10 Oct 2025
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I've been considering switching a chunk of my savings from USD to EUR... Wonder if now is the time to do it.
When you are asking such questions, it is high time.
My retirement fund, which I actually changed to have fewer US-indexed and/or US-run ETFs, is still up 20% over the last half year, which means I can probably expect a proper fall soon. Luckily I've got a few decades before retirement.
I sold almost all my US stocks beginning of the year. Probably losing out on some short term gains.
I can't wait for the bubble to burst. The hype is so annoying. Yes LLMs are cool but they're not nearly as revolutionary as some think. They will end up as just another tool software developers can choose to make use of when appropriate.
we are so close to General AI bro trust me
Just $200 trillion more bro!
Just 200 trillion gallons of water more bro!
Just one more ~~lane~~ GPU
little bump... just a little bump
Now imagine a stock market crash and the government in shut down. So no stimulus for anybody.
We've been down this road not long ago. The great recession lasted longer than any government shutdown.
The top 1% know they have to keep the top ~20% to ~30% placated. Otherwise they join the working class in protest. They just have to bail out the "too big to fail" companies so the upper class can make a living. The working class is fucked no matter what.
That's reason the status quo has remained these past several years. That upper class is still comfortable enough. So far they're only inconvenienced enough to vent on social media. No so much that they will take actionable steps toward change.
now imagine billionaires imagining this years before you imagined it.
There is a reason they buy bunkers in New Zealand.
Companies are buying GPUs and using them as collateral to buy more GPUs. All the while ignoring these are consumable products, not infrastructure, and all the while not showing a single dollar of profit. Because generative AI is a scam that has basically no profitable way of existing, and can't get people to pay for it no matter what they try
The most expensive part are the GPUs and they are obsolete in a couple of years. So not only are they not making enough to cover the cost of operation they are not making enough to toss all the GPUs every two to three years.
They're not just obsolete in a few years, they're literally worn out. Running a GPU at max power nonstop will make it break after just a few years, as many crypto miners learn pretty quickly..
Great clarification.
Shalett expanded on her concerns by saying that companies around Nvidia “are starting to become interwoven.” She noted that OpenAI is partially owned by Microsoft, but now Nvidia has also made an investment in the startup, while Oracle and AMD each have their own purchasing agreements with OpenAI. But OpenAI also has a data-center deal with tech giant Oracle ...
This. I fully agree with her comparison to the dotcom bubble around 2000 regarding the market sentiment, but the fact that markets are "interwoven" as Ms. Shalett frames it is much more relevant imo. And it reminds me more on the situation before 2007/08, when investment banks bought assets, securitized and sold them to the market, and then let their trading departments buying them back through the back door (Richard Bookstaber's seminal book, "A demon by our own design', is a highly recommended read on that. Mr. Bookstaber suggests that 'overspecialization' and centralization of decision making -often through ill-considered quantitative trading techniques- lead to vulnerabilities that eventually can force markets to collapse).
[Edit typo.]
Good point!
But think of all the value AI provides lol
Well, I started for "patriotism", but damn am I happy I moved all my investments in EU-only ETFs years ago! Sure, the hit will be felt even here, but not nearly as much.