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    • Mk23simp@lemmy.blahaj.zoneEnglish
      69·
      3 months ago

      Imagine if he waits for people to panic and sell off and then buys back into the market.

      In this case, I expect that the market is due to tank for real soon, so that would maybe be a stupid move, but it seems like in general someone could literally trade on the perception that they’re an insider (regardless of whether they have real inside information or not) to manipulate the market in their favor.

    • sp3ctr4l@lemmy.dbzer0.comEnglish
      31·
      3 months ago

      Yep.

      I read this and actually said aloud “Oh Dear God.”

      I mean, I’m a poor, I don’t have… a pension, investments, I’ll be lucky if my net worth ever exceeds the FDIC guaranteed $250k…

      But uh yeah, yeah, if you have any uh, exposure to the stock market… uh, good luck!

      Have fun realizing you were actually just barely less poor than me, this whole time.

  • Reisen@sh.itjust.worksEnglish
    771·
    3 months ago

    i hate peter thiel but i also hate nvidia and tesla so i hope this ends out somehow being bad for everyone

      • sp3ctr4l@lemmy.dbzer0.comEnglish
        32·
        3 months ago

        I would say I am fairly sure its some kind of afinancial crime to uh, short a company you have a material position in…

        But we live in ‘interesting times’, so… who knows!

        … Maybe he had an ‘interesting chat’ recently, with Michael Burry.

        That would be ‘funny’.

        • buddascrayon@lemmy.worldEnglish
          6·
          3 months ago

          I think it’s cute you believe that we live in a world where financial crimes are actually prosecuted.

          • sp3ctr4l@lemmy.dbzer0.comEnglish
            3·
            3 months ago

            I remember Enron being prosecuted, we did at one point at least kind of pretend to give a shit.

            But uh… yeah…

    • sugar_in_your_tea@sh.itjust.worksEnglish
      1·
      3 months ago

      The best case, I think, is for Nvidia and Tesla to do well in the short term (next 6 months or so) and then crash. That way Thiel and most people following his investment advice get to eat it, but the bubble doesn’t stay propped up for too long.

  • Bristlecone@lemmy.worldEnglish
    40·
    3 months ago

    Hilarious that at the end of this specific article, for me, an ad popped up advertising AI investing 😂 Jesus we are so fucked

  • CosmoNova@lemmy.worldEnglish
    368·
    3 months ago

    I thought we decided to not post stonks crap in here. It‘s what completely ruined the technology community over at Reddit before the entire site was ruined.

    • jdredbeard@lemmy.worldEnglish
      6·
      3 months ago

      The underlying story is the AI bubble that we all know will end badly. They are shoving lying and hallucinating AI on our devices and into our employment without consent. It’s going to come down, its a matter of when, not if.

      • SaveTheTuaHawk@lemmy.caEnglish
        61·
        3 months ago

        AI bubble that we all know will end badly.

        7 to 11X bigger than sub prime crash in 2008. NGL: watching Real Estate agents eating in soup kitchens was not a tragedy.

      • CosmoNova@lemmy.worldEnglish
        1·
        3 months ago

        Well if we gonna make a post every time some rich fucker sells tech stonks now it will quickly evolve into spam. I mean, we already know AI is overblown and we don‘t need to take a single glance at someone‘s portfolio to know that because this is a technology community and we‘re informed about what big tech keeps promising and underdelivering for 3 years straight.

  • Phoenixz@lemmy.caEnglish
    161·
    3 months ago

    Sooooo that gives us how long, exactly, until we dive nose first into a huge world wide recession?

    Remove the rich

    Nobody should be allowed to be a billionaire, put max caps on netwoths. Anything over 10-20 million should go 100% to tax

    • grrgyle@slrpnk.netEnglish
      6·
      3 months ago

      We don’t let individuals own nuclear weapons. We shouldn’t allow individuals to wield financial weapons.

      • TotalCourage007@lemmy.worldEnglish
        2·
        3 months ago

        Idk how this doesn’t make more sense to people. Eradicate Billionares worldwide, not just one country. Nobody should starve when Robotics are doing all of the work.

  • jellygoose@lemmy.caEnglish
    13·
    3 months ago

    I hope your 401K is diversified because this will bring down a lot with its fall.

    • UnderpantsWeevil@lemmy.worldEnglish
      51·
      3 months ago

      I hope your 401K is diversified

      When the MAG7 makes up half the S&P 500, its hard to get away from. Even if you somehow manage to avoid holding a big tech company (or a company that’s predicated on the spending of a Big Tech company), a downturn will force cascading sell-offs.