They meant in the sense that crypto/nft was the last fad that VCs were throwing money at.
It’s actually hilariously transparent how dumb VCs are and how much tech companies exploit that. Every now and then they randomly get hyped by some big tech company over some ‘new’ Y idea, then suddenly they throw money at any company suggesting they are doing Y thinking they will be the next Google or Meta. Then they inevitably doesn’t materialise and they move onto the next fad.
Through the years I’ve been in the industry we’ve had Big Data, followed by AI, followed by blockchain, followed by nfts, followed by metaverse and now back to AI again
Phlogiston@lemmy.world 10 months ago
“stock will become worthless”
I’m thinking the opposite might happen.
If big companies succeed in capturing the knowledge workers market share and transferring all those salaries into their own profits then it will be reflected in the stock prices of those big companies. People, mostly currently rich people, who own those stock will benefit.
Same as it ever was for other forms of automation or job outsourcing. Why would this be any different?