Post #3767476

2026-06-25 02:18 UTC

#bubblewatch update: Paul Krugman on the stock market carnage we've seen over the last few days. > The Chips Are Down. https://paulkrugman.substack.com/p/the-chips-are-down > There’s been a fall in tech stocks very much concentrated in semiconductors … What’s going on there? … it does seem that part of what’s happening, probably a large part of what’s happening, is that the tone, the rhetoric surrounding use of #AI, and hence the demand for compute, has really shifted quite a lot just very recently.

Replies (1)

@jackwilliambell@rustedneuron.com 2026-06-26 19:49

#bubblewatch update: While tech stocks melt down, because investors finally started doing the math and realized it doesn't add up, Ed Zitron is still ahead of everyone else in understanding the problem. In this case he's pointing out #AI is a Cargo Cult because they've ran out of ideas and can only mimic the forms of a viable business. > Cargo Culture. https://www.wheresyoured.at/cargo-culture/ > The AI industry is fundamentally judged based on its symbolic similarities to bygone eras.

Open ##3767475