Sucks that even though I’m not invested in anything, when this pops I won’t be able to buy food. Thanks a lot, wealth and “security” chasers.
Peter Thiel dumps entire Nvidia stake, slashes Tesla holdings amid bubble fears
Submitted 3 weeks ago by return2ozma@lemmy.world to technology@lemmy.world
Comments
the_q@lemmy.zip 3 weeks ago
drosophila@lemmy.blahaj.zone 2 weeks ago
Isn’t this an interesting property of market economies?
Software and silicon chip manufacturing has literally nothing to do with food production and yet a ‘disaster’ (I.E. going back to the status quo as of a few years ago) in that industry will affect your ability to eat. Nothing has happened to the farmers or their fields, or to the logistics system that moves food from one place to another, and yet somehow things suddenly can’t find their way from where they are produced to where they are needed.
Remember, this is supposed to be the most efficient way to allocate resources.
HubertManne@piefed.social 2 weeks ago
eyup. I mean considering it was more about not having housing before and now its about not having food we can see where things are going.
RyanDownyJr@lemmy.world 3 weeks ago
DragonTypeWyvern@midwest.social 2 weeks ago
They’ll wave it off as him deciding Elon is the antichrist he’s been moaning about
Reisen@sh.itjust.works 2 weeks ago
i hate peter thiel but i also hate nvidia and tesla so i hope this ends out somehow being bad for everyone
buddascrayon@lemmy.world 2 weeks ago
My bet is that he’s trying to start a panic in the markets. That way he can clean up on a short.
sp3ctr4l@lemmy.dbzer0.com 2 weeks ago
I would say I am fairly sure its some kind of afinancial crime to uh, short a company you have a material position in…
But we live in ‘interesting times’, so… who knows!
RalfWausE@blackneon.net 2 weeks ago
Wouldn’t that be below somebody like Thiel? I mean, he is a professional and this seems a bit too much “amateurish”…
Agent641@lemmy.world 2 weeks ago
Oh, it will. Bad for everyone human.
hayvan@feddit.nl 2 weeks ago
It will end badly for us.
sugar_in_your_tea@sh.itjust.works 2 weeks ago
The best case, I think, is for Nvidia and Tesla to do well in the short term (next 6 months or so) and then crash. That way Thiel and most people following his investment advice get to eat it, but the bubble doesn’t stay propped up for too long.
Prove_your_argument@piefed.social 3 weeks ago
This goes back to September.
Don’t make actions today based on something someone did months ago. Look at the situation now.
Nvidia is still being given piles of money. Everybody knows it’s gonna blow eventually… but if there’s a dip today it will rise again until a real crash once buyers stop paying.
DRAM going to the moon right now over demand is not a good sign of nvidia losing steam any time soon.
blarth@thelemmy.club 2 weeks ago
People are way too pessimistic about AI. NVIDIA is going to sell GPUs by the truckload until research finds a way around CUDA.
Sure, the pace of big leaps has slowed, but I liken this phase to the early 1900s. Cars were slow and unreliable, but once the technology took foothold and the 4th Industrial Revolution really took off, look how much progress was made. We went to the moon by the 60s.
GaryGhost@lemmy.world 2 weeks ago
AI is causing water shortages, rising electric costs and chip shortages. AI is just a fancy search engine, that can be a useful tool. It was awesome for ai to read my blood test results but I don’t need it for most things, a waste of energy. Search engines should have an off button for ai, turn the lights off when we’re not using it.
forrgott@lemmy.zip 2 weeks ago
I cannot fathom why I wouldn’t be pessimistic about a tool that’s being crammed into places it doesn’t fit. There are a small handful of things generative algorithms are genuinely useful for. But expecting it to magically solve anything else is foolish, and always will be.
trajekolus@piefed.social 2 weeks ago
Interesting comparison, but how many of the original car companies are still around today? And did those early car companies inflate and manipulate the stock market?- they probably weren’t even publicly traded in the early days.
I think a crash is on its way.
Prove_your_argument@piefed.social 2 weeks ago
I really just see current AI as search 2.0.
It’s less dumb, but it’s still fucking dumb. Search gives me garbage results constantly, so does AI. AI is usually just a little bit easier to figure out since you just ask it natural language questions unlike traditional search.
When googling anything today you really can’t find useful information unless it’s a very specific set of instructions usually on a social media site. AI doesn’t give you nearly as much garbage unless you start asking it really complex questions.
dogs0n@sh.itjust.works 2 weeks ago
I don’t doubt they’ll keep selling more GPUs, but AI certainly looks like a bubble that’s ready to burst with all the fake money going around in circles (assuming those diagrams are correct, which I assume they are).
Not the mention the lies that are keeping AI companies propped up, like AGI that will replace everything “in 3 months”. Pretty sure they missed that deadline already.
With the current “fake” money, lies and over-investment, something bad is surely going to happen unless someone steps in.
AI advances quite a bit each day, but I’m not sold on AGI becoming a thing any time soon, maybe even ever idk.
TropicalDingdong@lemmy.world 3 weeks ago
To shreds you say?
felixwhynot@lemmy.world 2 weeks ago
And how’s his wife?
Goodlucksil@lemmy.dbzer0.com 2 weeks ago
To shreds you say?
CosmoNova@lemmy.world 2 weeks ago
I thought we decided to not post stonks crap in here. It‘s what completely ruined the technology community over at Reddit before the entire site was ruined.
JensSpahnpasta@feddit.org 2 weeks ago
When we are in the middle of a tech bubble and one of the richest and most connected men on earth decides to cash out, then that is not “stonks crap”, but relevant tech news. Some companies stock price rising by 2% is not news, but this? Yes.
rafoix@lemmy.zip 2 weeks ago
Unfortunately, these stocks being high are directly related to so much of the tech world being complete shit right now.
CosmoNova@lemmy.world 2 weeks ago
You see that is exactly the problem I have with these posts. You don‘t actually know if the trading portfolio of a mega evil asshole actually has any impact on the technology world. Stocks are just gambling and he could make the wrong move here. Like 90% of high traffic posts in r/technology was just random billionaires trading stocks at some point. It was utterly pointless.
dil@lemmy.zip 2 weeks ago
I want to see it, lemmys got a bigger problem with individuals trying to control what everyone else sees, you have many options like blocking the poster
jdredbeard@lemmy.world 2 weeks ago
The underlying story is the AI bubble that we all know will end badly. They are shoving lying and hallucinating AI on our devices and into our employment without consent. It’s going to come down, its a matter of when, not if.
SaveTheTuaHawk@lemmy.ca 2 weeks ago
AI bubble that we all know will end badly.
7 to 11X bigger than sub prime crash in 2008. NGL: watching Real Estate agents eating in soup kitchens was not a tragedy.
CosmoNova@lemmy.world 2 weeks ago
Well if we gonna make a post every time some rich fucker sells tech stonks now it will quickly evolve into spam. I mean, we already know AI is overblown and we don‘t need to take a single glance at someone‘s portfolio to know that because this is a technology community and we‘re informed about what big tech keeps promising and underdelivering for 3 years straight.
echodot@feddit.uk 2 weeks ago
It’s a lot better than the practise of posting basically every news story because it tangentially involves a computer.
Bristlecone@lemmy.world 2 weeks ago
Hilarious that at the end of this specific article, for me, an ad popped up advertising AI investing 😂 Jesus we are so fucked
Tja@programming.dev 2 weeks ago
Honestly, if someone is goi g to pick shit at random, I rather have AI do it for 5 bucks a month than abnaker for 200k a year.
kent_eh@lemmy.ca 2 weeks ago
MourningDove@lemmy.zip 2 weeks ago
The whole fucking thing needs to crash to the ground.
Draegur@lemmy.zip 3 weeks ago
when you see the rats running from the end of the ship that’s settling a little lower in the water… that water ain’t outside the hull anymore.
UnderpantsWeevil@lemmy.world 2 weeks ago
-
Peter Thiel sells his Tesla stack
-
Telsa price goes up
Lolz. Lmao even.
OozingPositron@feddit.cl 2 weeks ago
-
phoenixz@lemmy.ca 2 weeks ago
Sooooo that gives us how long, exactly, until we dive nose first into a huge world wide recession?
Remove the rich
Nobody should be allowed to be a billionaire, put max caps on netwoths. Anything over 10-20 million should go 100% to tax
grrgyle@slrpnk.net 2 weeks ago
We don’t let individuals own nuclear weapons. We shouldn’t allow individuals to wield financial weapons.
TotalCourage007@lemmy.world 2 weeks ago
Idk how this doesn’t make more sense to people. Eradicate Billionares worldwide, not just one country. Nobody should starve when Robotics are doing all of the work.
Ibuthyr@lemmy.wtf 2 weeks ago
I don’t know much about these things, but since there’s zero actual value in all this tech bullshit, does it even fucking matter if they crash and burn?
BarneyPiccolo@lemmy.today 2 weeks ago
The next year before the Midterms is going to be a wild circus.
kent_eh@lemmy.ca 2 weeks ago
The next year before the Midterms is going to be a wild circus.
The criminal attacks on the entire democratic process will be at a new peak.
CubitOom@infosec.pub 3 weeks ago
ToastedRavioli@midwest.social 2 weeks ago
Everybody remain F***ING calm!
titanicx@lemmy.zip 2 weeks ago
Peter Thiel and Donald j Trump are both best friends with Jeffrey r Epstein and child rapists.
verdi@feddit.org 2 weeks ago
*Scooby-Doo voice
ruh oh
Sam_Bass@lemmy.world 2 weeks ago
Hope he loses everything
jellygoose@lemmy.ca 2 weeks ago
I hope your 401K is diversified because this will bring down a lot with its fall.
Blackmist@feddit.uk 2 weeks ago
If it isn’t diversified, then you’re not investing. You’re gambling.
UnderpantsWeevil@lemmy.world 2 weeks ago
I hope your 401K is diversified
When the MAG7 makes up half the S&P 500, its hard to get away from. Even if you somehow manage to avoid holding a big tech company (or a company that’s predicated on the spending of a Big Tech company), a downturn will force cascading sell-offs.
Rooster326@programming.dev 2 weeks ago
Does anyone 401k even let them choose what they want to invest in?
I have like 4 plans I can choose: Retire 2035, Retire 2045, Retire 2055, Retire 2065 and that’s it.
No options in the portal to do anything else.
sugar_in_your_tea@sh.itjust.works 2 weeks ago
Yup, I have ~15 options. Basically:
- low cost S&P 500, US mid-cap fund, US small-cap fund, and total international funds (all under 0.10% ER)
- 1-2 actively managed options for each of the first bullet point with much higher fees
- 3 bond funds
- a cash fund
- a retirement fund (tons of bonds and cash)
I’m in a mix of the first bullet point.
BanMe@lemmy.world 2 weeks ago
I have a 403(b) because I work at a university but yes we get to pick between a ton of stock funds but also a handful of blended assets, an invested bond, and a non-invested bond if you really think shit’s gonna go south. My last job did not offer this kind of thing tho.
mctoasterson@reddthat.com 2 weeks ago
Microsoft, Oracle, Nvidia, AMD, etc. all inking new partnerships to generate a headline and valuation increase. Meanwhile AI companies PE ratios creep upward.
The top few companies can only helicopter cash at eachother for so long before the bubble eventually busts. That’s not new income being generated, it’s more akin to check-kiting in a public trading context.
Venator@lemmy.nz 2 weeks ago
sugar_in_your_tea@sh.itjust.works 2 weeks ago
I’m pretty sure he is the anti-christ…
Doorknob@lemmy.world 2 weeks ago
Anyone hear a loud hissing sound?
themachinestops@lemmy.dbzer0.com 2 weeks ago
Here Comes Another Bubble v1.1 - The Richter Scales youtu.be/I6IQ_FOCE6I
vane@lemmy.world 2 weeks ago
incompetent@programming.dev 2 weeks ago
Can we get a TL;DR for those who hate clickbait, please?
AFaithfulNihilist@lemmy.world 2 weeks ago
line go up (but bad) From what I can tell, it looks like there are a lot of loans out right now, the rate at which they are issued has increased since the beginning of the Trump presidency has increased dramatically, and this is like really bad because If those loans don’t get paid back then pillars start collapsing underneath the financial system. Lose too many of those and the whole thing comes crashing down.
This one graph doesn’t represent all of the bad that is going on, it’s just a sort of a weathervane to tell you which way the wind is blowing. …and right now it’s blowing where the sun don’t shine.
vane@lemmy.world 2 weeks ago
beemikeoak@lemmynsfw.com 2 weeks ago
Ready to pump this beatch?
AdolfSchmitler@lemmy.world 2 weeks ago
Soo… gold and silver then? No clue how crypto is gonna hold up.
REDACTED@infosec.pub 2 weeks ago
Wait, crypto is still alive?
UnderpantsWeevil@lemmy.world 2 weeks ago
Thriving. The Trump Era has been gangbusters for crypto, as he’s made all sorts of crazy promises about building a federally financed coin reserve and stuffing it with digital crap.
Branch_Ranch@lemmy.world 2 weeks ago
Well, Bitcoin is down about 25% from it’s high a couple months ago so there’s that.
eestileib@lemmy.blahaj.zone 2 weeks ago
Rich Mean Boys.
PissingIntoTheWind@lemmy.world 2 weeks ago
I do believe he is starting investments into new projects and needed liquid cash. I wouldn’t dig too deep into this.
TankovayaDiviziya@lemmy.world 2 weeks ago
Nvidia had near monopoly on semiconductors. Even if Nvidia crash, they will recover. I just trimmed my own shares on Nvidia to cushion the blow.
sobchak@programming.dev 2 weeks ago
Not really. TSMC has a near monopoly on the advanced fabrication, and ASML has a near monopoly on the lithographic machines TSMC uses. Nvidia is a fab-less designer. Google has its TPUs, and Amazon has some kind of custom chip too.
TankovayaDiviziya@lemmy.world 2 weeks ago
I also invested in TSMC.
ASML is way too expensive for my taste. I’ve been hoping they will do split stock so I could get in.
megopie@lemmy.blahaj.zone 2 weeks ago
They have a near monopoly on cloud service genAI data center GPUs. They don’t make the semiconductors. They just hand the design for those chip to TSMC and then sell what TSMC makes for them. The vast majority of their revenue right now is coming from selling stuff to new genAI data centers, if those stop getting built, they loose 80% of their revenue. And their current valuation is based on an assumption of an order of magnitude of new such data centers being built year on year.
I think, that it’s very likely that demand for new such chips is liable to drop to 0 because the capacity of currently extant data center using their chips is already overbuilt for realistic demand. No one other than Nvidia is making money on these data centers, and there is no path to profitability.
TankovayaDiviziya@lemmy.world 2 weeks ago
Thanks for the info. Silly me didn’t realise Nvidia doesn’t manufacture semiconductors. I thought Nvidia also does because they are one of the leaders in GPU. Speaking of GPUs, at the very least they command the GPU market.
empireOfLove2@lemmy.dbzer0.com 3 weeks ago
That means the peak is here. The insider of all insiders sold? Dump everything!
Mk23simp@lemmy.blahaj.zone 3 weeks ago
Imagine if he waits for people to panic and sell off and then buys back into the market.
In this case, I expect that the market is due to tank for real soon, so that would maybe be a stupid move, but it seems like in general someone could literally trade on the perception that they’re an insider (regardless of whether they have real inside information or not) to manipulate the market in their favor.
5C5C5C@programming.dev 2 weeks ago
I imagine this should count as illegal stock market manipulation, but the government would be too toothless to prosecute it.
unexposedhazard@discuss.tchncs.de 2 weeks ago
Who cares tho. Anyone who sells now still made massive gains. Only gamblers think about “potential gains”.
sp3ctr4l@lemmy.dbzer0.com 2 weeks ago
Yep.
I read this and actually said aloud “Oh Dear God.”
I mean, I’m a poor, I don’t have… a pension, investments, I’ll be lucky if my net worth ever exceeds the FDIC guaranteed $250k…
But uh yeah, yeah, if you have any uh, exposure to the stock market… uh, good luck!
HubertManne@piefed.social 2 weeks ago
was gonna say. they guy whos company is to to have all the information. mmmmmm.