Comment by OGEnthusiast
19 hours ago
Crypto bros in hindsight were so much less dangerous than AI bros. At least they weren't trying to construct data centers in rural America or prop up artificial stocks like $NVDA.
19 hours ago
Crypto bros in hindsight were so much less dangerous than AI bros. At least they weren't trying to construct data centers in rural America or prop up artificial stocks like $NVDA.
Instead they were building crypto mining warehouses in rural America and propping up artificial currencies like BTC.
Crazy how the two most hyped and funded technologies of the decade were: energy wasting fake money for criminals and energy wasting plagiarism machines.
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Speaking of which, we never found out the details (strike price/expiration) of Michael Burry's puts, did we? It seems he could have made bank if he'd waited one more month...
I think they expire in March 2026 if the NVIDIA stock drops to $140 a share? Something close to that I think.
They were, just not as many. https://www.wired.com/story/the-worlds-biggest-bitcoin-mine-...
It's funny how people complain about the rust belt dying and factories leaving rural communities and so on, then when someone wants to build something that can provide jobs and tax revenue, everyone complains.
How many people are employed at the average data center? A few dozen? Versus a steel mill, that’s nothing. A chicken plant in Nebraska closed down this last month. 3200 people lost their jobs. You think Meta will fill it with GPUs and the whole town will have jobs again?
Many more are employed while building it. And they will never stop building. It's modern version of rail. But instead of distances it will cover the area.
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I’ve heard about the risk of AI leading to job losses and wealth concentration.
I haven’t heard about new businesses, job creation and growth in former industrial towns. What have I missed?
As if any taxes will be paid to the areas affected, and add to that the billions in taxes used to subsidize everything before a single cent is a net positive.