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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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[–] Bronzebeard@lemmy.zip 3 points 1 day ago (3 children)

I mean, if you add enough circles to your graph, it just shows how the entire economy works. What's the cutoff point where it's an obvious bubble and when it is just normal economics in motion?

[–] upsidebeet@sh.itjust.works 2 points 21 hours ago (1 children)

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

[–] Bronzebeard@lemmy.zip 1 points 12 hours ago (1 children)

Sure, just define value...

[–] upsidebeet@sh.itjust.works 0 points 12 hours ago

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

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