RE: https://toot.cafe/@baldur/116330293486023818
āasset-backed securitiesā
WHAT ASSETS?
OpenAIās value is speculation of what their software is worth. they don't have billions in manufacturing plants or machines. they don't even have billions in data centers.
if the assets are from companies with valuations based on promisory notes that speculate how much money they could make in a fairy tale future, 2008 is going to look like rookie mistakes.
the AI bubble is built on ABS & CMBS bundling and tranching money that never existed.
In the future, in my old age doing urban exploration in the abandoned Trump Presidential 'Library' ... over-gown with plants, sunlight dapples through the shattered skylights.
I watch a colony of Camponotus floridanus beautiful ants living in what was once a fountain... but now is a natural moss garden.
"Now" is not forever.
I had to find the video to check that he really said this. Those were the words, in that order. I suspect if anyone got around to asking about it, you get a salad of nonsense back ... so I will take this sentence at face value.
"I don't believe in building libraries or museums" -Trump
Got it.
Our children are not our possessions, and neither are anyone elseās.
They belong to themselves, and being themselves is their responsibility and their right.
Iāll say it again: Our children are not our possessions, and neither are anyone elseās.
I'm wondering what's involved in setting up a worker-run cooperative and keeping it running; who here as experience working in such a cooperative?
What were you doing? How did it go? Did it pull in enough money to pay the bills? What were the conflicts in organizing it? Do you still work there? What were the major challenges? Was anything surprising about the process of it all?
Boosts very appreciated!