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Powell says that, unlike the dotcom boom, AI spending isn’t a bubble: ‘I won’t go into particular names, but they actually have earnings’ (fortune.com)

submitted 1 day ago by cm0002@lemmy.zip to c/usa@midwest.social

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The entire US economy right now is 7 companies sending a trillion fake dollars back and forth to each other, but it's totally not a bubble according to grampa Powell.

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[–] thinkercharmercoderfarmer@slrpnk.net 14 points 1 day ago (1 children)

I believe all pyramid schemes have earnings. The problem is that the bag has so far been shown to be pretty empty and somebody is going to be left holding it.

[–] galoisghost@aussie.zone 10 points 1 day ago (1 children)

Ooh I saw the answer to that today. It’s the suckers who buy into the OpenAI $1 trillion dollar IPO

[–] HeyThisIsntTheYMCA@lemmy.world 2 points 13 hours ago

One trillion usd ipo? If that's not a scam I've never heard of scams.