• Ulrich@feddit.org
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    2 days ago

    there has to eventually be an actual use case for this that makes back the billions they’re investing no?

    No. They just keep investing in perpetuity. Look at Tesla.

    • WhatsTheHoldup@lemmy.ml
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      2 days ago

      Look at Tesla.

      Sure

      Tesla’s stock has plummeted over 50% since December, causing the company to lose $800 billion in market value. That drop has also knocked roughly $100 billion off Musk’s net worth, though he remains the world’s richest person, with a fortune estimated at $329 billion by Forbes.

      According to the Financial Times, short sellers have made over $16 billion betting against Tesla in the last three months, and some analysts have downgraded their global delivery forecasts to the lowest levels since 2022.

      https://finance.yahoo.com/news/tesla-stock-tanked-hard-no-161417378.html

      • Ulrich@feddit.org
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        2 days ago

        Look closelier. +5% over the last 5 days. +18% over the last month. +77% over the last 12 months. +460% over the last 5 years. That’s in spite of the CEO’s recent deeply polarizing antics that have nothing to do with Tesla itself.

        • WhatsTheHoldup@lemmy.ml
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          2 days ago

          Don’t make up numbers.

          +77% over the last 12 months

          It’s -21.36%. I don’t know where you’re getting this info from.

          Type “Tesla stock” into Google and select YTD (year to date).

          • Ulrich@feddit.org
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            2 days ago

            LOL I am not making up numbers, you just don’t understand what “year to date” means…

            • WhatsTheHoldup@lemmy.ml
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              2 days ago

              Oh, got it. Yeah thats embarrassing. Google places it right after 6 months so i didnt even think about it LOL. I see the +77% over the past year.

              We’re super in the weeds at this point, and Tesla stock has nothing to do with AI so i shouldn’t have even entertained you changing the goalposts, but now that you have I’ll admit you scored on this one.

              Back to the original point though, neither Tesla nor AI will grow in perpetuity, the bubbles will burst, it’s just a question of when.

              • Ulrich@feddit.org
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                2 days ago

                i shouldn’t have even entertained you changing the goalposts

                I didn’t change any goal posts, I gave an example as evidence of how companies’ stock prices can balloon indefinitely with no rational justification. That’s not the same thing.

                • WhatsTheHoldup@lemmy.ml
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                  2 days ago

                  Yeah we were talking about the AI bubble and you changed the goals to the stock of an electric car company.

                  I gave an example as evidence of how companies’ stock prices can balloon indefinitely with no rational justification

                  There was no need. I already agreed a bubble exists.

                  The question we were discussing is whether or not it will pop.

                  My view is it will pop eventually, your view seems to ge that in 100 years from now a pyramid scheme built on infinite growth is somehow still resulting in heaps of returns for investors.

                  Time will tell.

                  • Ulrich@feddit.org
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                    2 days ago

                    Yeah we were talking about the AI bubble and you changed the goals to the stock of an electric car company.

                    I did not change anything, both topics are about “bubbles” in general.

                    I already agreed a bubble exists.

                    I did not. My evidence was in the contrary.

                    your view seems to ge that in 100 years from now a pyramid scheme built on infinite growth is somehow still resulting in heaps of returns for investors

                    You’re intentionally misrepresenting my statements. I never said anything about returns. It’s built on infinite speculation.

                    Please stop lowering yourself to bad faith arguments.