“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 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