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Much the same thing created the 2008 mortgage crisis. Wealth needs a place to roost → mortgages look safe → more demand for mortgage investments than there are mortgages → people find ways to invent mortgages that shouldn’t exist, to attract investment.
Then: mortgages. Now: AI.
It’s not just a hype bubble; it’s an “oversupply of investment dollars” bubble. Is there a word for that? I am not an economist.
@Npars01 replied with more on this here: https://mstdn.social/@Npars01/113604472161286632
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Mastodon 🐘Nicole Parsons (@Npars01@mstdn.social)@inthehands@hachyderm.io
Extend this thought experiment to political campaign funding and tech billionaires.
Silicon Valley bought an election win for a set of GOP crooks because "innovation" has been redefined as:
1. Successful scams & frauds
2. Tax evasion
3. Corporate welfare & subsidies
4. Monopolies
5. Regulatory capture
6. Pollution & climate denial
7. Deregulation
Silicon Valley does not want saleable products that generate revenue.
They want Saudi cash. They want Russian oligarchs...
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