Pluralistic: Daily links from Cory Doctorow – No trackers, no ads. Black type, white background. Privacy policy: we don't collect or retain any data at all ever period. [Unofficial]May 7Pluralistic: Bubbles are REALLY evil (07 May 2026)
https://web.brid.gy/r/https://pluralistic.net/2026/05/07/dump-the-pumpers/
So we’re doing laser-pointer economics again 😼. CNBC says a UUNet employee’s Excel “best case” got treated like law: internet traffic would double every 100 days; WorldCom later filed Chapter 11 in 2002 after disclosing $11B in accounting fraud, and CEO Bernard Ebbers got 25 years. Maybe stop budgeting on spreadsheets?
Long-time Slashdot reader theodp writes: Jeopardy time. A. This company spurred CEOs to make huge speculative capital expenditures based on wild unverified claims of future demand, resulting in the layoffs of tens of thousands of workers to reduce the resulting expenses, harming their core business...
Oh, and #NVIDIA is nothing like #Worldcom. "NVIDIA, you are nothing like Worldcom, why are you even bringing up Worldcom?". And remember: NVIDIA is nothing like ENRON. Got it? Noone said NVIDIA is like ENRON, will you please move on now.
@derpostillon da steckt doch ihr dahinter, oder? Auch ihr müsst einsehen: NVIDIA is nothing like ENRON.
Once a Wall Street darling, WorldCom’s meteoric rise and spectacular collapse became one of the most infamous corporate scandals in U.S. history — a cautionary tale of greed, deception, and broken trust.
Once a Wall Street darling, WorldCom’s meteoric rise and spectacular collapse became one of the most infamous corporate scandals in U.S. history — a cautionary tale of greed, deception, and broken trust.
📅 TODAY IN HISTORY: July 3, 2002
WorldCom admits to faking $3.8B in earnings.
The scandal shook markets and reshaped corporate regulation.
It’s a timeless warning: fraud hides in plain sight—especially behind spreadsheets.
Скандали Enron і WorldCom показали руйнівну силу корпоративного шахрайства. Сьогодні, через 20 років, ризики повертаються. Як захистити фінансові ринки від нових криз? #Enron #WorldCom #ФінансовіСкандали #КорпоративнеУправління #Аудит #Україна
Детальніше: https://newsua.us/node/7756
Or think of #Worldcom vs #Enron. Both bubbles were built on pure fraud, but Enron's fraud left nothing behind but a string of suspicious deaths. By contrast Worldcom's fraud was a Big Store con that required laying a ton of fiber that is still in the ground to this day, and is being bought and used at pennies on the dollar.
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