Mastodawn

The US basically isn't enforcing a whole host of laws and regulations regarding finance (hasn't since the 2007 bubble, even less so these days) which means the current bubble probably has a bunch of fraud going on—sorry, "poor information environment" is, I think, the euphemism du jour

Since online advertising has basically been filled with I Can't Believe This Is Legal™ fraud-adjacent behaviour for years, I'm personally taking the numbers coming out of tech with a grain of salt

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Simon MacDonald 7h ago

@baldur been bracing for the bubble pop since last year. I’m not an economist but it’s pretty obvious there is a ton of fraud going on right now. It’s funny to have conversations with people at my bank and draw comparisons to the dot-com and housing bubbles. They just look at me like I’m crazy. I might be too old or have too good of a memory.

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MacCruiskeen

@macdonst @baldur One thing one has learned from remembering prior bubbles is that they have a lot of self-sustaining momentum. They'll run until even the fumes are exhausted, might be two or three years past the point of no return. But yeah, the only rational response is to try to insulate yourself as much as possible and hunker down.