Mastodawn

Baldur Bjarnason Oct 15

“It's Giving Enron - by Dave Karpf”

https://davekarpf.substack.com/p/its-giving-enron

> the AI bubble isn’t predominantly giving off Pets.com or Global Crossing vibes anymore. It’s giving Enron vibes

Been saying this for a while. They're gonna Enron this shit until it explodes all over us

It's Giving Enron

On the AI bubble, and the various echoes of the dotcom crash

The Future, Now and Then

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Dave Griffiths Oct 15

@baldur a lot of people are saying this - it's been on the media for weeks now, I can't quite understand this dynamic of everyone knowing it's a scam, but no one divesting - is it simply because they can't?

I think it was @davidgerard who said a potential issue is that people think there’s nowhere else for investment funds to go. The bubble is the only game in town.

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David Chisnall (*Now with 50% more sarcasm!*)

@rubenerd @nebogeo @baldur @davidgerard

There's some of that. There are also a few other issues:

It doesn't matter if it will crash as long as you get out first and a lot of people are betting there's at least another six months of growth.
If you sell too quickly, you cause the crash (if you're big enough), so you keep talking growth while quietly and slowly selling.
There's a lot of FOMO. If there's a crash and you are part of it, everyone around you did the same thing and you don't get blamed. If your find sells and it keeps going up, your investors complain. And you lose your bonus.