Amazon did not invent remote shopping by mail. That’s been around since 1800s. They weren’t even the first website to do that.
and loans and interests are abstract concepts that have existed for millennia so I don’t know what you’re talking about there.
Bubbles and speculation don’t create wealth, new tech or products. Like what aspect of bubbles are you trying wash here? They’re bad for everybody except for the few rent seekers at the top.
Yes the railroad was a bubble. A ton of people lost money in that investment.
Amazon was a bubble, it lost 92% value when it popped.
Bubbles don’t create wealth, i agree
The housing bubble lost people a ton of money that that investment, and people also lost their pensions when the Bible popped.
A bubble is when people start heavily investing in a product to the point it’s a losing bet because that sector doesn’t need the money, or can’t produce the returns bubble investors are looking for. So when the AI bubble pops a lot of people will lose money, but the product will be here to stay because of the investment.
My point is that when a bubble pops the product is here forever, where most people think a Bible popping is the product is a failure and will disappear.
“grim”
Every bubble has created something we use every day. AI isn’t going anywhere.
You use tulips every day?
You bundle and sell subprime mortgages every day?
You use the world wide web every day?
dot com bubble was about speculation over domain names. The internet was certainly not created by a bubble.
Mortgages are used everyday.
Railroad are used everyday
The interest is used everyday
Amazon is used everyday
Those are the big bubbles in recent history.
Railroads were not made or built by a bubble.
Amazon did not invent remote shopping by mail. That’s been around since 1800s. They weren’t even the first website to do that.
and loans and interests are abstract concepts that have existed for millennia so I don’t know what you’re talking about there.
Bubbles and speculation don’t create wealth, new tech or products. Like what aspect of bubbles are you trying wash here? They’re bad for everybody except for the few rent seekers at the top.
Yes the railroad was a bubble. A ton of people lost money in that investment.
Amazon was a bubble, it lost 92% value when it popped.
Bubbles don’t create wealth, i agree
The housing bubble lost people a ton of money that that investment, and people also lost their pensions when the Bible popped.
A bubble is when people start heavily investing in a product to the point it’s a losing bet because that sector doesn’t need the money, or can’t produce the returns bubble investors are looking for. So when the AI bubble pops a lot of people will lose money, but the product will be here to stay because of the investment.
My point is that when a bubble pops the product is here forever, where most people think a Bible popping is the product is a failure and will disappear.
Don’t forget the AI bubble is also a ram and SSD bubble.
That is not a bubble, it’s a shortage caused by a bubble.