Post #2305018

2025-10-14 22:21 UTC

&quot;But I’ll say this: the AI bubble isn’t predominantly giving off Pets.com or Global Crossing vibes anymore. It’s giving Enron vibes. When the dust settles, we’ll probably see a whole lot of books written about the fancy math games that convinced investors that two companies passing $100 billion back and forth were creating $200 billion in value instead of having a net financial impact of $0.&quot; https://davekarpf.substack.com/p/its-giving-enron?r=eeyg&amp;triedRedirect=true

Replies (5)

@lkanies@hachyderm.io 2025-10-14 22:31

@grigs@front-end.social yeah I’m having this same feeling. I was just describing to someone yesterday how all this money passing is just spreading the bubble out, turning it from an isolated problem into a system-wide issue.

Open ##2804984
@svelmoe@hachyderm.io 2025-10-15 06:58

@grigs@front-end.social I'm getting to the point that I actually don't care about what consequences it'll get for society/economies around the globe - I just want the bubble to burst because this "AI" race and enshittification is terrible for society right now.

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@i_give_u_worms@beige.party 2025-10-15 12:09

@grigs@front-end.social hmm, sounds like pump and dump

Open ##2804986
@samiamsam@mastodon.social 2025-10-16 11:48

@grigs@front-end.social here's a documentary about it https://en.wikipedia.org/wiki/Enron:_The_Smartest_Guys_in_the_Room

Open ##2804988
@designatednerd@mastodon.social 2025-10-16 15:59

@grigs@front-end.social reminds me of the old joke about two economists out for a walk. They come upon a pile of dogshit, and the first one bets the second one $100 he won't eat it. The second one eats the dogshit, and the first one gives him $100. Then they come upon another pile of dogshit, and the second bets the first that *he* won't eat it. The first eats dogshit, and second pays him $100. The second says "Wait, we both ate shit and are where we started!" First says "Ah, but we added $200 to the GDP!"

Open ##2804989