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  • Jason Grigsbygrigs
    Oct 14, 2025, 10:21 PM

    "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."
    davekarpf.substack.com/p/its-g

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Replies

  • Luke Kanieslkanies@hachyderm.io
    Oct 14, 2025, 10:31 PM

    @grigs 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.

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  • Allan Svelmøe Hansensvelmoe@hachyderm.io
    Oct 15, 2025, 6:58 AM

    @grigs 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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  • Ellen Shapirodesignatednerd@mastodon.social
    Oct 16, 2025, 3:59 PM

    @grigs 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!"

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