The term was well established centuries ago.
FRAUD
Comment on The RAM shortage is coming for everything you care about
bonenode@piefed.social 2 weeks ago
I think calling it a RAM shortage is a bit incorrect. It is not like we are running out of raw materials or something else in the supply chain is broken. It’s shitty AI companies buying RAM that is not existing yet with money they don’t have. Unfortunately there’s no good term for that, I guess.
Whostosay@sh.itjust.works 2 weeks ago
Goodlucksil@lemmy.dbzer0.com 2 weeks ago
Yes there is: it’s a Ponzi scheme (AI companies will fail when they get no new funds to pay off the stockholders)
jaybone@lemmy.zip 2 weeks ago
Are they paying off stockholders?
Rothe@piefed.social 2 weeks ago
They are creating staggering shortsighted profits, so yes, they are doing that. And of course ignoring what a bubble does in the long run.
Goodlucksil@lemmy.dbzer0.com 2 weeks ago
Those who bail out only.
dust_accelerator@discuss.tchncs.de 2 weeks ago
I like electron finance
Their exact location cannot be pinpointed; instead, they exist in a probability cloud where they are likely to be found at any given time.
That’s what this hype cycle is founded on. If I lend you $5, you have $5 you can lend further. Now, we each still have a right to $5, so we can lend that debt obligation again for $4.50. Now we have, somehow, a market value of $19.
Until someone looks, then it’s probably 0.
sefra1@lemmy.zip 2 weeks ago
Unfortunately there’s no good term for that, I guess. Market manipulation?
Diplomjodler3@lemmy.world 2 weeks ago
It’s a racket, plain and simple. There used to be laws against this sort if thing.
BigDanishGuy@sh.itjust.works 2 weeks ago
It’s a racket, plain and simple. There used to be laws against this sort if thing.
Keyword: used to
I hope that it was worth it, and that America is great again. Let me just check some news articles… Oh my
gressen@lemmy.zip 2 weeks ago
It is a shortage caused by artificial demand rise.
Blue_Morpho@lemmy.world 2 weeks ago
A mismatch between supply and demand is called a shortage. The source is irrelevant.
anomnom@sh.itjust.works 2 weeks ago
Supply monopolization?
Consumer fraud.
Sherman Act cartel market manipulation.
Section 1 of the Sherman Act prohibits price fixing and the operation of cartels, and prohibits other collusive practices that unreasonably restrain trade.
Appoxo@lemmy.dbzer0.com 2 weeks ago
We have RAM supply shortage.
Now better? god…0x0@lemmy.zip 2 weeks ago
It’s shitty AI companies buying RAM
It’s greedy manufacturers selling it all to them in the first place and other market segments be damned.
I’m no AI fan but the manufactures aren’t angels either.AA5B@lemmy.world 2 weeks ago
The shovel makers and shovel sellers always get rich in a gold rush
Blue_Morpho@lemmy.world 2 weeks ago
If your boss offered you a raise for the same work, would you turn it down?
0x0@lemmy.zip 2 weeks ago
Not the same.
Blue_Morpho@lemmy.world 2 weeks ago
The money is fixed. You getting a raise means the money has to come from somewhere- which means the boss taking a pay cut or the customers paying more.
kingofras@lemmy.world 2 weeks ago
It’s called Imaginary Economics.
It tends to happen right before a capitalist system fails.
victorz@lemmy.world 2 weeks ago
How often does this happen that we can claim this correlation? 🤔
Venator@lemmy.nz 2 weeks ago
About once every 350 years… With a sample size of 3… 😅
victorz@lemmy.world 2 weeks ago
Better than no samples I guess!
Cocodapuf@lemmy.world 2 weeks ago
So you’re saying which empires/systems exactly then?
Spain perhaps? The Holy Roman empire?
kingofras@lemmy.world 2 weeks ago
It’s about to. The very nature of it, means you can only have a sample size of one.
victorz@lemmy.world 2 weeks ago
And when do you predict this will occur? When should I have built my nuclear shelter so I know when to start building it?
blah3166@piefed.social 2 weeks ago
Can I coin the term imagineomics?
boatswain@infosec.pub 2 weeks ago
[citation needed]
1984@lemmy.today 2 weeks ago
When has this happened before?
UnderpantsWeevil@lemmy.world 2 weeks ago
I’m not holding my breath.
We’ve been hearing about an AI crash practically since the hype train started.
vaultdweller013@sh.itjust.works 2 weeks ago
People can see the trends and see how it will probably break down in some way, the problem is that the market can stay irrational longer than we can stay solvent. It helps that these dipshits seem to have forgotten that money equals abstract resources and creating new resource issues that’ll certainly put pressure on them in a more direct way either through legislation or via sabotage of required infrastructure.
daddycool@lemmy.world 2 weeks ago
It’s the biggest bubble seen to date. It has all the characteristics, and it will crash eventually.
BreakerSwitch@lemmy.world 2 weeks ago
Is this a thing? Because what comes to mind for me is “the market can remain irrational longer than you can remain solvent,” which just happens sometimes