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'At some point you've got to make money': Goldman's top AI skeptic warns the clock is running out ahead of OpenAI and Anthropic IPOs (fortune.com)
submitted 4 months ago by to c/technology@lemmy.world
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[–] 28 points 4 months ago (7 children)

If I wasn’t convinced the entire financial system was fraudulent I would be shorting the fuck out of all of them

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  • [–] 35 points 4 months ago (6 children)

    "The market can remain irrational longer than you can remain solvent"

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  • [–] 9 points 4 months ago

    We'll burn more and more coal to power air conditioners to deal with unbearable global warming until that's no longer possible.

    The financial markets are the same. No reasonable person believes any of this is sane or sustainable. But what happens when the music stops? Very few chairs.

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  • [–] 7 points 4 months ago (4 children)

    Especially since Nvidia has reached the "too big to fail" level; guess who's gonna pay again for the upcoming crisis?

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  • [–] 1 point 4 months ago (3 children)

    Source? Not doubting you, just would like to know the criteria.

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  • [–] 4 points 4 months ago (2 children)

    There isn't a completely objective criteria, from Wikipedia:

    Federal Reserve Chair Ben Bernanke also defined the term in 2010: "A too-big-to-fail firm is one whose size, complexity, interconnectedness, and critical functions are such that, should the firm go unexpectedly into liquidation, the rest of the financial system and the economy would face severe adverse consequences."

    NVIDIA currently makes up nearly 7.5% of the S&P 500 (not to mention that they have invested a lot in the other companies and those companies have invested in NVIDIA). If they were to suddenly be liquidated I'd say that would cause 'severe adverse consequences' to the economy.

    And it would likely cause a ripple to other tech companies, which which make up roughly 1/3 of the entire US stock market.

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