“hmm, how is the market doing”

computer hardware went up 5x because memory that hasn’t been yet manufactured was bought with money that doesn’t exist for pairing with gpus that don’t exist in data centres that haven’t been built which would be powered by infrastructure that isn’t even planned to satisfy demand that doesn’t exist in order to generate profits that will never exist

“good god”

@xyla they made the "invisible hand of the market" real 
@xyla genuinely though look at this BULLSHIT
@xyla
I recently bought an SD card. And wept.
@xyla What's more insane:
Nobody actually agreed to buy any RAM. They just proclaimed "we're thinking about it" and that was sufficient for everything else...

@hannah @xyla

It used to take contracts & sales agreements to corner a market for a monopoly or a price-fixing cartel.

https://en.wikipedia.org/wiki/Cornering_the_market

Now it just takes a rumor on an oligarch's social media platform.

Creating a dependence on the foundational
https://www.ft.com/content/8ee64d45-c1f6-408f-a1b6-bcd4dfed0a32
https://archive.is/aNV7c

Cornering the market - Wikipedia

@xyla It gets better than that, they bought undiced wafers, not even for GPUs that don't exist. Just to make sure someone else can't make memory chips out of them.
@xyla afaik you are incorrect, this memory hasn't even been bought. altman publicly said, that it would require 40% of global memory to realize project starship. the prices went up. he didn't even buy it. that makes the whole situation even more bizarre
@xyla god this shit is gonna lead to a tech downfall, isn't it

@xyla

expecting the rug pull on all the component suppliers as soon as the grifters finish their IPOs

@xyla Well AI is hallucinating results, their makers are hallucinating revenue and earnings.

Like Father like son or something IDK