• Tom Arrr@lemmy.worldEnglish
      4·
      13 days ago

      Isn’t crypto being massaged by trump atm, so erratic is kinda the new normal? (And, not erratic from trumps view)

    • Alaknár@sopuli.xyzEnglish
      1·
      13 days ago

      Wasn’t that just a temporary drop so that some whales could get richer on shorts?

    • Knock_Knock_Lemmy_In@lemmy.worldEnglish
      5·
      13 days ago

      Crypto had it’s black monday.

      The fall may have been accelerated by portfolio insurance hedging (using computer-based models to buy or sell index futures in various stock market conditions) or a self-reinforcing contagion of fear

      Algorithms and feedback loops gummed up all the crypto exchanges and liquidity disappeared.

      The crypto tide went out and we all saw who wasn’t wearing any shorts.

  • Blackmist@feddit.ukEnglish
    19·
    13 days ago

    I’ll just wait for the movies to come out ten years later telling us exactly how they all lost our money again.

  • nexguy@lemmy.worldEnglish
    3·
    11 days ago

    All ai companies should direct all resources to medical research. I mean we would have to do without ai slop summaries for search engines and ai slop images. Well on second thought I guess slop is worth the human cost so let’s keep it as it is. I bet I get my wish.

    • Nalivai@lemmy.worldEnglish
      11·
      12 days ago

      Nvidia are very smart in that regard, ethics aside. Very early on they decided that selling cards to gamers will not give them the infinite growth everyone so desperately desire, so they started looking for what does, and they were consistent at it ever since. Every tech bubble of the recent history is powered by Nvidia cards. How much they contributed to the hype (and damage) is not entirely clear, but that’s not zero for sure

      • mcv@lemmy.zipEnglish
        11·
        12 days ago

        They lucked into it. They made their cards for gamers, and various groups, AI researchers, bitcoin miners and others, discovered that they those gamer GPUs were really good for other tasks too. I think it took a while before Nvidia started making specialised cards for those purposes.

        I can’t really blame them for serving that market that they just lucked into. I can and will blame them for their terrible Linux support.

        • Nalivai@lemmy.worldEnglish
          5·
          12 days ago

          Oh believe me, it wasn’t just luck. They have special labs full of people who’s whole job is to find another unexplored niches that can buy their cards. And they only make specific single purpose cards only when the market is mature enough to justify the spending, which is also smart.

    • KeenFlame@feddit.nuEnglish
      5·
      12 days ago

      They made gpus long before the gold rush and will not stop after. The usefulness of tensor cores will not dwindle with any market correction. Even before ai boom they were valued astronomically out of reality. Not a single stock is tied to actual selling or owning of anything anymore

      • Nalivai@lemmy.worldEnglish
        5·
        11 days ago

        Just like shovels existed before the gold rush and will exist after humanity’s death. But we have a saying for a reason

  • biofaust@lemmy.worldEnglish
    14·
    12 days ago

    From the entry for “zaibatsu” on Wikipedia:

    Under the Allied occupation after the surrender of Japan, a partially successful attempt was made to dissolve the zaibatsu. Many of the economic advisors accompanying the SCAP administration had experience with the New Deal and were highly suspicious of monopolies and restrictive business practices, which they felt to be both inefficient, and to be a form of corporatocracy (and thus inherently anti-democratic).

    The only difference? The zaibatsu actually diversified their operations.

    • Glytch@lemmy.worldEnglish
      7·
      12 days ago

      And that is why Yamaha makes everything from musical instruments to motorcycles

    • vacuumflower@lemmy.sdf.orgEnglish
      1·
      12 days ago

      Many of the economic advisors accompanying the SCAP administration had experience with the New Deal and were highly suspicious of monopolies and restrictive business practices

      Your country was very different then.

  • EzTerry@lemmy.zipEnglish
    4·
    11 days ago

    I see “gold rush” the company selling shovels is making out like a bandit, everyone else is make a profit on the previous gen but requires a 10x cost increase for the next gen. And thus 10x more shovels… As soon as 10x more shovels stops giving 10x+ improvements this is the wrong investment.

    Hints are we already reached this point.

    Some AI companies will pivot and improve in other ways with more linear costs/results… The ones hoping the line continues to the moon… I think they overshot… I just don’t know when it will fall back…

  • Octavio@lemmy.worldEnglish
    33·
    12 days ago

    The funny thing about people who say it’s not a bubble because AI has value is that the asset category having value doesn’t prevent valuation bubbles from forming.

    Houses have value: you can live in them. Yet there was a housing bubble.

    The internet has value: you can watch cat videos on it. Yet there was a dot com bubble.

    Tulip bulbs have value: you can grow pretty flowers with them. Yet there was a tulip bulb bubble.

    In my experience, whenever you start reading news stories asking if something is a bubble and quoting investment bankers say, “no, it’s not a bubble,” well, usually it’s a bubble.

    • thatKamGuy@sh.itjust.worksEnglish
      111·
      13 days ago

      Oh, but you can bet your bottom dollar there are still something like 20:1 ratio of dark-market bets synthetic collateral against these shares further underpinning valuations.

      Legitimately fear that this will make the ‘08 meltdown look quaint in comparison, as the fiscal stress will not be limited to shares but impact loads of financial instruments (home and car loans, retirement accounts etc.).

      • mojofrododojo@lemmy.worldEnglish
        1·
        11 days ago

        right? I just figured the “it’s not a bubble, guuuuys” crowd could find someone a tiny bit more credible lol

          • Jyek@sh.itjust.worksEnglish
            2·
            11 days ago

            I wish it were safer to make these sorts of sweeping gambles. Shorting Nvidia right now is like a pretty obvious bet but getting the timing right is the difference between generational wealth and a lifetime of poverty and debt.

    • ubergeek@lemmy.todayEnglish
      5·
      11 days ago

      Goldman Sachs also though NINA mortgages were a good idea, and they also thought it was a good idea to bundle bad mortgages in with good mortgages, and find a rater to mark them AAA investments.

      And then we saw how that worked out.

      • mojofrododojo@lemmy.worldEnglish
        5·
        11 days ago

        yeah, how could this go wrong?

        at least after the crash those houses could be lived in. these datacenters are made for one purpose, AI, and really would have to be completely gutted and refurbed for general purposes… fun.