Never done
Except they did it for decades in some cases
Something it’s never done? Tech is notorious for spending more than it earns. See: the Dot Com bubble.
Every ‘disruptive’ technology in the past decade as well.
It‘s how virtually every startup in Silicon Valley still operates. Bait and Switch is the business model of the 21st century.
that was 30 years ago. for the last 20 years tech has had blank cheques thrown at them.
They aren’t “forced” to do anything. They are choosing to throw money down a black hole.
Not really true.
If they stop, it’s over for them.
They have to keep digging hoping for something big to happen: IPO and rake in cash from retirements; big government programs with guaranteed vendor lock-in; or stumbling upon an AGI and winning the ‘’‘’‘’‘race’‘’‘’‘’.
If the market wakes up from the hypertrend before that, they are absolutely fucked.
We get fucked in every scenario, btw.
Well, I’ve learned to think of these things as wealth transfers — is that fair in this context.? Question is, where’s all the money going that big tech is loosing? To power companies, or is more complex than that?
it’s going to Nvidia, Samsung, Micron, western Digital. companies that make hardware components. those are the pickaxes in this story.
Remember, the execs are bonusing themselves. They are all getting filthy rich right now.
(And like all scams, they don’t care about efficiency.)
It’s going in a circle, eventually ending up at nvidia and co.
also effectively wasting planets resources
I thought Big Tech loved burning money.
Man, I miss MoviePass… For $9.99/mo, it converted venture capital into something people could directly enjoy by watching as many movies as possible!
Turns out it’s hard to make money if you don’t sell infinite free copies of a product that you only have to produce once.
Lol big tech loves speculating. It’s a bubble, and if not now, when? … Delivering real products is such a pain in the ass.
False
It’s fucking bandwagoning. That’s it. That’s all this is. I hope the market destroys them for it.
Wall Street spent years demanding AI investment, then panicked when AI investment showed up on the balance sheet: If Alphabet keeps printing record profits while building the infrastructure for the next decade, this may end up looking more like impatience than prudence. The market loves growth, until it has to pay for it.
It will be interesting how this plays out. The only bright spot of the bullshit Trump economy is Wall Street’s success and AI investing is what is driving that.
Don’t forget Trump has made oil way more expensive. That’s a huge favor to the world and the things that live on it!
He’s also decimated environmental regulation…so, definitely not a huge favour.
