Comment

Comment on AI Is Starting to Look Like the Dot Com Bubble

The dotcom bubble was one of the middle dominos on the way to the 2008 collapse, the fed dropped interest rates to near zero and kept them there for years, investor confidence was low, so here come mortgage backed securities.

In addition, the bubble bursting and its aftermath is what allowed the big players in tech (Amazon, Google, Cisco etc) to merge to monopoly, which hasn’t been particularly good

source

Sort:hotnew top

WarmSoda@lemm.ee ⁨1⁩ ⁨year⁩ ago
Most Americans didn’t even feel the effects of the 2008 collapse. Most recessions aren’t noticed by most of the country. These things are blown way out of proportion by news conglomerates that have a vested interest in it.

source
- 5in1k@lemm.ee ⁨1⁩ ⁨year⁩ ago
  Um no. So many of my friends unemployed. So many people were losing houses. It was nuts. Everyone noticed. The government even gave us “please don’t riot” money.
  
  source
  - WarmSoda@lemm.ee ⁨1⁩ ⁨year⁩ ago
    All your friends lost thier jobs and houses. Uh huh.
    
    source
    5in1k@lemm.ee ⁨1⁩ ⁨year⁩ ago
    I even remember going to downtown Detroit to repair scratches on desks on entire floors of a empty of employees skyscraper right on Jefferson. Hipsters bought an empty skyscraper as well up in New Center. But yeah, no one affected.
    
    source
    5in1k@lemm.ee ⁨1⁩ ⁨year⁩ ago
    The company I worked for went from 12 to 5 employees. I bought a house for 15k because so many people lost them and the prices collapsed. Did you live through it? Maybe you were just insulated or ignorant of what was happening.
    
    source
    -> View More Comments
- rambaroo@lemmy.world ⁨1⁩ ⁨year⁩ ago
  You have got to be kidding me. I don’t know a single millennial who wasn’t affected badly by 2008.
  
  source
  - WarmSoda@lemm.ee ⁨1⁩ ⁨year⁩ ago
    Not a single one! Let me guess, you know one.
    
    source
    rambaroo@lemmy.world ⁨1⁩ ⁨year⁩ ago
    You’re either trolling or you live under a fucking rock.
    
    source
    -> View More Comments
- ZagTheRaccoon@reddthat.com ⁨1⁩ ⁨year⁩ ago
  this has got to be trolling.
  
  source
- QHC@lemmy.world ⁨1⁩ ⁨year⁩ ago
  What are your thoughts on the Great Depression or either World Wars?
  
  source
  - WarmSoda@lemm.ee ⁨1⁩ ⁨year⁩ ago
    Idk, probably not the same thoughts you had deciding to chime in to a 5 day old discussion.
    
    source