I have dim memories of hearing this in 2008 or so.
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Out of curiosity, I just checked reddit’s stock price. Holy shit, I think I might sell. It spiked up way high the last couple of days, and I have no idea why. I bought it at its IPO and paid like 30 something a share, and it’s currently at 188. It might be time to bail and move that over to my mutual fund.
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It jumped in price today, because it’s finally reported a profit, after 20 years of operation. It’s good news for the company, though I don’t think that it’s good enough news to justify a price to earnings ratio of 288.
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Ed Zitron is on the top of some mountain screaming at the top of his lungs about how AI is a bubble right now…
Every economic disaster is new again!
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Yeah, I’m so glad it totally is something new and unforeseeable each and every time, and never ever anything systemic, god forbid. Now that would be really bad and throw our whole economic system into a bad light. Whew, lucky escape! Again! What are the odds?
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Oh Jesus Christ… this is gonna make the 2008 crash look like a little dip in the markets, isn’t it? We are in for a much worse time than the Great Depression mayhaps?
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It’s a bit like the railway boom in the late 19th century.
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Foxconn says EV sales are so slow it’s converting a factory to build AI servers instead
That’s the Lordstown, Ohio facility.
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But unlike the railway boom (and the 90s dot-com bubble), all this investment in AI isn’t going to leave behind useful infrastructure for the rest of the economy.
Unless we can think of a good use for a few million used GPUs, that is.
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Why, mining cryptocurrencies, obviously!
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Olympic Crysis tournament?
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Can we change the game? things your mom should’ve told you covers how the rich fuel inequality, using / rigging the system to increase their wealth and control:
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A month ago, I noticed new ads from Kodak on social media offering services to convert people’s old photos and films. That’s a service already provided by local businesses. Worse, there were a ton of comments about the high cost and months long wait times for a response after customers mailed their memorabilia to the company. The longest I’ve waited for similar work from local companies is two days.
It’s also interesting to note that Kodak is getting into pharmaceuticals, since chain drug stores have been helping people get photos developed or digitized for decades. 
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I am always amazed that the company that invented digital cameras was also done in by them.
Kodak has a long and sophisticated history of chemical process engineering and production. The jump to pharma maybe isn’t so surprising in that light.
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They’ve had a medical device business for a while, so they’re even familiar (at least in parts) with the regulatory environment.
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Was going to joke that it’s too bad they didn’t think of digital photography (because of course, they invented it), but then found this. Including that they bought into an online photo sharing site in 2001, and ended up selling it off for $25 million at the same time the relatively new site Instagram was getting bought out for $1 billion.
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