Post #4345850
2026-08-03 03:22 UTC
I hope y'all who've been rooting for the AI bubble to crash are prepared to hunker down.
This is gonna be grim.
Replies (2)
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@GeePawHill@mastodon.social 2026-08-03 18:07
Because a rising stock market only really helps the wealthy, people tend to think that a collapsing stock market only hurts the wealthy, but this is not at all true. Yes, in 1929, many millionaire financiers (tho by no means all) went bust. But by 1932, a quarter of America's families had not a single full-time wage-earner. Some families lived in caves or sewage tunnels. And when you're rationing food & shelter, you're way past rationing health care.
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@Epic_Null@infosec.exchange 2026-08-03 18:40
@GeePawHill@mastodon.social Am I prepared? HELL NO. Will that change as the expected fallout grows? Absolutely not. The sooner the bubble bursts, the less damage it will do and the easier it will be to recover.