Whatever you feel about the tech, the economics are stupid right now and seemingly entering at least correction territory.
Nasdaq 100 is down over $2.7T over the last month, so far. Still further to go. There are simply not enough earnings to support the capital that has been invested.
OpenAI has cut its funding target by $10B due to lack of enthusiasm by investors. Certainly, if you think AI is going to capture trillions of dollars of value, I encourage you to catch the falling knife.
Al Enthusiasm Is Collapsing and Tech Earnings Just Made It Worse - https://www.bloomberg.com/news/articles/2026-10-31/ai-enthus... - October 31st, 2026
Tech Selloff Burns Al Dip-Buyers as Sector Slides for Third Week - https://www.bloomberg.com/news/articles/2026-10-30/ai-dip-bu... - October 30th, 2026
Gartner Survey Finds Only 13% of CIOs Say Their Enterprise Has Realized Significant or Transformational Value from AI - https://news.ycombinator.com/item?id=50207881 - October 2026
I've never listened to the Zitron's podcast. But does he present himself as a financial expert? I've heard so many people that seem to think he is a financial wiz and use him to inform investment decisions.
If anything has the chops to prove both Zitron AND the Soviets right, it's AI.
holbrad•1h ago
sowhat1•59m ago
bdangubic•14m ago