Catoblepas comments on Teehee

[–] Catoblepas@lemmy.blahaj.zone 52 points 1 week ago (6 children)

Hi, I am not very smart at the economy. Is it considered good when a company loses over 60% of its value in one year?

[–] ininewcrow@lemmy.ca 28 points 1 week ago (1 child)

At this point in history ... the economy looks and acts more like a religion or cult

It only exists based on the beliefs and faith of the people who follow it ... as soon as enough people lose faith in it, it is no longer worth anything

permalink

fedilink

source

parent

hideshow 1 child comment

[–] Wildmimic@anarchist.nexus 3 points 1 week ago

It is a religion, and the thought leaders tend to be just as mature as expected when their theories get dismantled. https://www.youtube.com/watch?v=YJrhBwGw7Ac for more information.

permalink

fedilink

source

parent

[–] artyom@piefed.social 18 points 1 week ago

a year? It's down 37.5% in five days !

permalink

fedilink

source

parent

[–] tburkhol@lemmy.world 9 points 1 week ago

It is excellent evidence that the founders and VCs chose exactly the right time to unload their scheme and rip off a naive public.