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Comment by altdataseller | Hacker News Reader

Where is the evidence behind this? Yes the Nasdaq sold off, but who said this is because of AI jitters? Who says it because investors are questioning whether AI is worth the hype? Did Bloomberg interview all these big investors who sold tech stocks today?

… or are they just telling the narrative that will drive the most eyeballs? Because they can’t have a lame headline like “$1T wiped from Nasdaq because there were more sellers than buyers”???

I know its “bloomberg” but we can’t just blindly believe everything they tell us.

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At the end of every trading day, news reporters confidently state the reason behind whatever stock rose or fell that day. They must be very wise as they don’t seem to interview anyone before making these proclamations.

News reporters don't write the narrative - it is traders, analysts and economists.

"I did everything perfectly, but stuff outside my control blew up my otherwise winning trades - it would have been even worse if not for my quick thinking" is the correct answer for when your boss asks "Why did you lost $50million today?".

It is what he told his boss back in the 00's when he was in your seat and it is what some junior will tell you in 20 years time when you are in the corner office.

Pretty much any human presented with a tiny slither of information immediately asks for and or invents a “narrative” to “make sense” of what occurred.

The less datapoints you have, the easier it is to make a line that fits.

We’re great at pretending to understand, masters at nodding wisely.

> We’re great at pretending to understand, masters at nodding wisely.

People have even convinced themselves that when they pretend to understand and nod along like a master that they themselves have obtained mastery level understanding of the subject.

Financial news headlines have been like that forever. They feel like they have to attribute the drop to something so they just come up with whatever sounds plausible. It doesn't even matter that they're often contradictory, like in a week I wouldn't be surprised if I saw the headline "Nasdaq 100 makes huge gains on AI's booming future."

They are in on it. They have to explain it somehow so it doesn't look like market is starting to deflate or head down... Even if some of these valuations are at point where that is not entirely unreasonable.

Worse than trying to attract eyeballs, they’re lying to put down an industry that threatens the existence of traditional media and especially media like them that relies on advertising

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