I remain astonished by the fact no one at OpenAI thought announcing publicly that they were probably going to default on a trillion dollars of debt might be the thing that causes the bubble to start to burst.
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@david_chisnall Now is the time to divest from your standard "target 20xx retirement" mutal funds. Roll them into low volatility markets.
@david_chisnall *hey search engine, can poor people short nvidia stock?*
@xkummerer I wouldn't. I fully expect NVDA to lose more than half of its value, but I wouldn't like to place a bet on when. And you can lose a lot of money on shorts if you guess too early.
@david_chisnall May the fuckin bubble burst spectacularly.
@david_chisnall Everybody jumped to accommodate every other outrageous demand they had ever made. They probably just forgot about rejection as a possibility.
"When you owe the bank a dollar, it's your problem. When you owe the bank a million dollars, it's the bank's problem. When you owe the bank a trillion dollars, it's the country's problem."
My guess, the debt will be restructured, substantially at the taxpayer's expense. (That is not to say it won't burst the bubble, or that equity holders won't be wiped out.)
@bradr @david_chisnall I think the sheer lack of revenue, because no one is actually prepared to pay, via LLM subscriptions, for the massive planned investment all the big "AI" tech players are engaged in will mean that it will be impossible for them to put off collapse for long.
@bradr The thing is, you don’t tell people you’re going to default before asking to borrow a trillion dollars.
@david_chisnall Wait, what ? What have they done ?
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