Jason GormanMay 4, 2025
We're 2.5 years into this gold rush, and I still haven't seen any gold. I've seen people selling picks & shovels. I've seen "gold experts" selling maps to the gold. I've seen CEOs announce they're going "gold-first". I've seen people selling land where they claim there's gold. But no actual gold.
Show threadNegative12DollarBillMay 4, 2025

@jasongorman

• Apple knows there's no gold, but Google seems to think there's gold, so Apple shareholders demand they start mining.

• Google knows there's no gold, but Facebook seems to think there's gold, so Google shareholders demand they start mining.

• Facebook knows there's no gold, but Apple seems to think there's gold, so Facebook shareholders demand they start mining …

Show threadJason Gorman
@negative12dollarbill I think it might be even simpler than that. I don't think *any* of them believe, but investors will keep driving the share price up for as long as they believe someone will buy them for *more*
May 4, 2025 at 8:56amWeb
Show threadJason GormanMay 4, 2025

@negative12dollarbill It's a Ponzi scheme. Just like crypto, Web3, Big Data, etc etc.

It's not about gold. It's about the price of land.

Show threadDaniel V.May 4, 2025

@jasongorman @negative12dollarbill speaking of, look at the WebCoin and “The Orb” stuff Altman is up to with a second company.

Tl;dr “Damn we made something that has poisoned the information well of society by slopping up every damn thing? Well now I guess we gotta come up with a way to verify that people are real people and not just bots!
Enter: the blockchain.”

That alone should be damning and torpedo the entire industry, but the nominally literate appear to be the ones in charge, so we have to join them with their gold rush 🙃