Mark Hughes
David GerardTHIS
IS
GOOD
Blue Owl limits withdrawals from two funds after historic surge in redemption requests
these guys are the main funders of AI data centres
Paul Rietschka@davidgerard We're nearing the end of all this.
I do wonder how many of these data centers will turn out to be nothing but outright fraud, with maybe a concrete shell, some equipment, but nothing ever really built and the money discreetly siphoned away.
There are some fraudsters making a killing at the moment.
Anthony@[email protected] @[email protected] Yeah, once the rich people with fancy lawyers start getting squeezed, they start fighting with one another instead of focusing on screwing the rest of us. Re: the fraud, I also wonder how many of these "deals" were made without public scrutiny, hidden behind NDAs, by local politicians who may not survive politically once all the cards start toppling and nothing gets built.
europlus 
@prietschka @davidgerard imagining this coming true…
EntitasNow, I'm not one of them there smart money-talking folks, but "people are trying to get out so fast that we have to stop them from getting their money back" sounds an awful lot one of them bad news "bank run" sorta deals.
Maria “indigoviolet” Ivy@davidgerard say what’s that distant rumbling sound
Alexander 😷
METRIC - Speed the Collapse (Official Lyric Video)
Rycochet@davidgerard Don't worry, it's fine, Blue Owl are selling shovels in a gold rush!
Sure, they've got huge warehouses of shovels they're going to have to pay for and have comitted to building more shovel storage lots, and sure the people buying shovels are running out of money, and their investors are trying to get out of shovels and gold because wealthy people are noticing there may not be much gold there after all... But... Hang on, Chat GPT will come up with a reason why this is all good and normal eventually and they can base a statement on that.
Matt Palmer@davidgerard it's gonna be a hoot.
Brandon@davidgerard what’s the effect of people pulling shares out of the funds? Blue Owl’s banks ask it to post more collateral or start making loan payments?
glasspshr@davidgerard don’t threaten me with a good time
