@david @joseph11lim
Nvidia are providing their Processors to the LLM company’s on credit.
They may be profiting on paper but when all their customers go bankrupt, they will need to write down the bad debt.
They may get a tax break, but they will still loose a lot.
Jul 7, 2026, 11:08 AM@Salvo @joseph11lim Even worse that I thought, then. Do you believe it’s more a case of “when” the bubble bursts rather than “if”?
@david @joseph11lim
When.
The LLM fad is just BitCoin and NFT version 3.0
We are midway to the burst. They still haven’t generated any significant revenue, other tech companies are becoming bearish on the product and meatspace businesses are realising that the promises are not being fulfilled.
If you were a petrostate despot or an oil oligarch getting vast windfall profits from two wars, Ukraine & Iran, you'd be doing some tax-loss harvesting too.
Every fraudster does it.
https://www.nytimes.com/2016/08/17/us/politics/trump-chris-christie-casinos.html
https://www.nytimes.com/2016/06/12/nyregion/donald-trump-atlantic-city.html
https://www.nytimes.com/2026/05/19/us/politics/trump-settlement-irs.html
https://www.nytimes.com/interactive/2016/us/politics/trump-taxes-loophole.html
https://taxpolicycenter.org/taxvox/trumps-916-million-nols-art-dodge
https://www.cnbc.com/2026/04/16/wealthy-tax-planning-2026-bills.html
AI is a net-operating-loss scam for oligarchs
https://cleantechnica.com/2026/06/30/openai-went-from-5-09-billion-net-loss-in-2024-to-38-53-billion-net-loss-in-2025/
https://wlockett.medium.com/openai-is-in-a-far-worse-position-than-i-thought-1605b424eb58