A huge problem are developers who lack a fundamental understanding of how the internet even works. I’ve had to explain how short, unqualified names resolve vs how fqdns resolve. Or why even you may not be able to reach another node in your proverbial cluster, because they are on different subnets. Or, why using GUIDs as hostnames is a generally bad idea, and will cause things to fail in unpredictable ways, especially with deeply nested subdomains.
A delusional market, is, by definition a bubble.
It is not “normal” to run a 4 year money loser and claiming to be worth billions.
Only in made up financial land does that work, and causes cyclic depressions where the working class loses wealth, and the oligarchs further concentrate wealth in their hands.
And you said its driven by companies making money… the big AI companies driving this bubble are losing money.
Being in a non-federal government job, in a non insane state.
The problem isn’t the imaginary market, which I agree with the description. Its the leveraging of debt, to gamble in the market, which is what low interest rates enable.
And yes, our interest rates are VERY low still. I’m looking at some ARM packages right now, and their max lifetime interest rates are on par with what a typical mortgage was about a decade ago.
The vast majority of what’s happening here is not debt.
Most of what is going on in the AI sector is most certainly debt leveraged. Like, I’m looking at the books for several companies deep into AI.
I mean, how much profit is OpenAI turning right now?
Goldman Sachs also though NINA mortgages were a good idea, and they also thought it was a good idea to bundle bad mortgages in with good mortgages, and find a rater to mark them AAA investments.
And then we saw how that worked out.
I don’t think the AI bubble will burst is because it is driven by companies that actually make money.
Last I looked, the big AI companies are all hemorrhaging money.
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