Five tech giants are hiding $1.6T in AI debt, using the trick that toppled Enron | Hacker News Reader

Five tech giants are hiding $1.6T in AI debt, using the trick that toppled Enron

thenextweb.com

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1929 flashback? We already had a pandemic but no booming times

It has been amazingly booming if you have had money in any market... But poor are forgotten.

Markets might be booming but society sure isn't. Everyone's miserable and burned out and broke.

it may depend on where you live and who you hang around with

Which usually depends on how much money you make!

Except most people have general ai for free or $20/month.

That's not really very useful if you're struggling to make rent or put food on the table :/

You can't eat AI slop

nah, more recent is dotcom bust. lots of circular funding on ephemeral services that have zero physical basis or equates to real gdp output.

Discussion on source: https://news.ycombinator.com/item?id=48987863

Does anyone have a good article on the topic? This one seems rather LLM generated. Not sure the specifics can be trusted... Overall thesis is maybe right, but would like to understand this in a bit more detail.

Linked from the article:

https://news.bloomberglaw.com/tech-and-telecom-law/big-tech-...

Is it just me or is this clearly written by Claude?

The last heading is literally "The honest version"

But otherwise throughout it just reads like Claude wrote it.

It is obvious. It‘s disgusting

It's not just obvious - it's disgusting. And that matters more than you think. - Claude

And they are using the special debt vehicle tricks that made the 2008 bubble and the resulting crash. This is an economic nightmare:

https://makingsense.quora.com/AI-Bubble-Seems-To-Be-Using-Th...

I’m glad we have a competent and trustworthy administration to guide us through this inevitable collapse.

I am offering NFTs for https://ouruboroi.com/qr/9d1c15

How do you think I got this island?

I love that term "special vehicle", I'll have to use it more often from now on as a Universal Excuse:

"It's not a fatal bug, it's a special vehicle".

"It's not fraud, it's exercising a special vehicle".

"It's not an empty excuse, it's a legitimate special vehicle".

Reply on news.ycombinator.com