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[–] 63 points 11 months ago (19 children)

I don't know if Thiel is a smart investor, but if this is on of the first sign of the AI bubble burst, yay!

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  • [–] 95 points 11 months ago (4 children)

    He invested $800M in Yahoo! In 2008 and lost it all, among a whole series of other fuck ups. I think he’s an illustration of the rule that if you’re rich enough you don’t have to be very good at anything

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  • [–] 30 points 11 months ago* (1 child)

    Yeah. "Genius investors" are just people who have insider information and know how to cover their tracks (or don't need to).

    Otherwise? Diversify and just ride the general economy. Barring insider information, it wins every single time.

    Maybe thiel has insider info. Maybe not. Pretty much everyone assumes this is a bubble that will pop. I am a lot more skeptical (how many "bubbles" have we had that mostly just petered out or readjusted to reasonable levels?). But there is also an argument to get out while it is "high enough" and leave others to hold the bag if/when it does pop.

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  • [–] 3 points 11 months ago (2 children)

    Anyone hoping for a bubble is forgetting history. This isn't going to hurt the billionaires and trillionaires. It'll all fall on workers. It always falls on the workers.

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  • [–] 2 points 11 months ago (1 child)

    retailers specifically, who bought into it.

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  • [–] 3 points 11 months ago*

    I'm not worried about investors. I am worried about this shitty economy tanking. Employment is already fucked and this will increase layoffs.

    It does not help that we have a worthless president in charge. The likelihood of a depression is very real.

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  • [–] 3 points 11 months ago*

    it seems his palintir AI, isnt what its cracked up to be. i was reading the same thing on a subreddit on r/technology, said his is just more expensive than the rest. thiel has just been shielding his own companies dealings from the public more better than the rest.

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  • [–] 8 points 11 months ago (8 children)

    He's not. Nvidia is the only company actually making money from this. The bubble bursting doesn't really hurt them at all. Their company isn't based solely on AI, and they have plenty of other baskets to shift their eggs into.

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  • [+] 17 points 11 months ago (3 children)
  • [–] 8 points 11 months ago

    Yeah, but that's almost entirely because they've shifted hardware priorities to AI and inflated their pricing to capitalize on the corporate grift, over everything else because of the bubble and limited competition. Losing that means little actually changes, they just shift hardware sales back to other customers instead of telling everyone elss to go fuck themselves while they send everything to AI companies.

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  • [–] 2 points 11 months ago (3 children)

    The actual fabs are making money too. Nvidia doesnt actually make anything

    TSMC makes the GPU, micron makes the VRAM.

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  • [–] 0 points 11 months ago (2 children)

    You're saying the #1 largest company in the world doesn't make any money and that the #9 and #51 placed companies are the ones actually making money?

    I'm guessing there must be something they're adding.

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  • [–] 19 points 11 months ago (1 child)

    Wouldn't this be more about the fact he's in the Epstein files, and the depth of corruption involved is about to drop. This is liquidating assets so they can't be seized.

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  • [–] 3 points 11 months ago

    thiel is definitely in there, and trumps "planned released" of the files is most likely to redact his involvement, which makes it worst.

    Thiel cares very much about the news talking about him: see gawker, and his BOY TOY "defenestrated" last year.

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  • [–] 16 points 11 months ago* (4 children)

    I hope ram prices go down when the bubble bursts

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  • [–] 21 points 11 months ago (2 children)

    I hope all PC parts crash and we all can cash in on some sweet rigs or upgrades.

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  • [–] 12 points 11 months ago

    come on, fucking burst already! 🙏🙏🙏

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  • [–] 7 points 11 months ago (2 children)

    I wonder how close we are to the AI bubble popping. whenever I see these posts about tech companies and STONKS I get really excited

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  • [–] 8 points 11 months ago (1 child)

    I don’t. I remember tales my grandparents told me of what their parents went through in the Great Depression. I have 0 interest in experiencing any of those things myself.

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  • [–] 11 points 11 months ago (3 children)

    First rule about bubbles popping: If you think it will happen soon, it will not.

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  • [–] 9 points 11 months ago* (1 child)
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    [–] 4 points 11 months ago (2 children)

    Why would anyone still have Tesla stock?

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