Comment by samplatt
17 hours ago
>Billions of dollars of stock market value disappeared because of the concern
That's really the key, right there. The value disappeared because of concern, not of anything real.
When ungodly amounts of money is governed entirely by vibes, it's hardly surprising they lose ungodly amounts of money to vibe-coding.
The downside is the effects of all that money shifting is very real :(
> That's really the key, right there. The value disappeared because of concern, not of anything real.
The value also only existed in the first place because of belief, in future work, operations, profits, etc.
Like it or not, confidence in institutions is society. Concern that affects that confidence is as real as any other societal effect.
That's because of P/E and how future earnings work.
If the P/E = 1 then there would be no sell-off. Looks at utility stocks with divs, they don't sell off [as sharply] when there is AI news.