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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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[–] upsidebeet@sh.itjust.works 2 points 14 hours ago (1 children)

An easy litmus test would be: is value produced by system or product.

[–] Bronzebeard@lemmy.zip 1 points 5 hours ago (1 children)

Sure, just define value...

[–] upsidebeet@sh.itjust.works 0 points 4 hours ago

Here’s an easy one: doesn’t lose tens of billions of dollars a year while destroying the environment