Comment on The Value of NVIDIA Now Exceeds an Unprecedented 16% of U.S. GDP
BombOmOm@lemmy.world 4 months agoThe United States has tethered 16% of its entire economic output to the fortunes of a single company
Yeah, this article should compare nVidia’s revenue to the US GDP (both measure of annual production). But we know why they aren’t, as it wouldn’t produce an alarming stat.
Yeah, this article should compare nVidia’s revenue to the US GDP (both measure of annual production). But we know why they aren’t, as it wouldn’t produce an alarming stat.
Not really, because Nvidia’s revenue is far less exorbitant than its market cap. I’m not sure why c/technology is suddenly a dumping ground for every random Medium blog, which is as trustworthy a news source as somebody’s Facebook feed.
The AI bubble will pop, but will likely be more like the doctom crash than the 2008 one. It isn’t as interconnected with the rest of the economy.
This is going to age like milk.
The dotcom crash was no joke. Most people here weren’t around for it (as adults at least) so they brush it off. I’m not saying this next crash won’t be bad, I’m saying it won’t have the knock-on liquidity effects of 2008.
What you aren’t taking into account how much the US social safety net has hollowed out since the dotcom crash.
This is going to be very bad, I wouldn’t waste words speculating about the extent of the damage, we haven’t seen this kind of shock hit such a fragile US society. There is no resilience left in the US people to climb out of a big economic crash, things will just shatter.
I generally agree with you, except I don’t think we can speculate whether it will be like 2008 the dot-com bubble.
The world economy different from what it was ~25 years ago. I believe the reliance on index type funds has increased at a drastic rate.
There is also things like the relative concentration of AI-influenced stocks.
Another new piece is America becoming much more corrupt. Americans might not care about this, but it would be naive to think this would not have caustic effect in the medium term on the real world.
Mind you, I am not necessarily saying I know the correct answer, just pointing out some things to consider.
I believe the reliance on index type funds has increased at a drastic rate.
Very good point, although this will disproportionately harm individuals, and the people in charge don’t really care about that so it won’t be as disruptive as somebody important (like a bank or a hedge fund) getting into financial trouble.
I’m not sure why c/technology is suddenly a dumping ground for every random Medium blog, which is as trustworthy a news source as somebody’s Facebook feed.
That blog is run by the poster, who is rather on my “users here to push an agenda” list.
Goodlucksil@lemmy.dbzer0.com 4 months ago
Still, 1/200 of the country with the biggest military is a large amount for a single company.