460
An electric car company who's sucking right wing dick and pissing off liberals isn't breaking records?!
BUT REPUBLICANS LOVE GREEN ENERGY
yeah, honestly, if you zoom out summary level, the whole thing is so confusing.
I'll admit I wasn't paying attention, so high-level he seemed like a Tony Stark, liberal darling: investing in space, internet access, electric cars, and solar. I mean, the dude was set to be a left-wing mascot. Boy was I an idiot. But I admit I wasn't paying close attention to any early flags.
Honestly, same. I liked him up till he called that dude a pedo for saving those kids before he could. He seemed cool up till then for the most part then holy shit did he nosedive.
Literally all he had to do was to shut the fuck up and let his companies make infinite money for him. But no, he's got to have his own personal face in the news. Now here we are, Musk is one of the most hated people on the planet and every single one of his businesses are tanking into the lithosphere.
It would be a lesson on hubris if he was capable of self reflection.
Yeah, apparantly there was shit before the pedo thing but it wasn't super widely known? To me, and many like me, he was just this shitposter running companies that seemed like they might really do cool shit like self driving cars and taking us to mars.
It's not prostitution if you pay in horses. Then it's patriarchy.
We had a good thing, you stupid son of a bitch! We had Tesla. We had SpaceX. We had everything we needed, and it all ran like clockwork.
SpaceX is tanking? Big news. Tesla is still the most valuable automaker, so it has a ways to go.
I hate him too, but let's not live in fantasy.
He was on track for that for sure. But he had two crippling flaws: anti union, and ego obsessed jackass.
The first is obvious how it went down. We like unions, he’s deep in the Californian ideology that caused conflict and he rejected the left aspects of that ideology because of what appears to be a lack of emotional regulation. And that’s where the second comes into play here. It’s also partly because the left is vicious. We kill our heroes to an unhealthy degree.
All that aside, they've also been floundering lately and lacking in any substantial new developments. Self driving isn't really progressing, their line-up hasn't seen any refreshes, no new features, and all they have to show for it is a Cybertruck with a bunch of issues and delays that probably wasn't going to sell well to begin with.
This really isn’t surprising. Their market cap was larger than the whole of the rest of the auto industry combined. Had to come back to earth eventually.
I wanted to short it because it was obviously overvalued but I was absolutely not confident it would come down because I will always believe there are greater fools among the Tesla shareholders.
Remember: the market can remain illogical a hell of a lot longer than you can remain solvent.
Exactly. Nvidia's stock is propped up by AI hype, and that's going to collapse at some point. That could happen tomorrow, or next year, or three years. If I try to short it, I could easily lose the whole investment before the market hits reality.
Something about how the market can stay irrational longer than you can remain solvent…
Michael Burry, who shorted the housing market in 2008 and made big upfront payments for that bet also shorted Tesla in the last couple years, but bailed because it was too risky for him.
The original memestock.
Hmmm looks like all the Tesla speculators jumped on the Nvidia train. Always the danger of gambling on these tech hype stocks.
I'm still in complete shock and awe at this. I honestly don't understand how anyone plans to cash in on the AI hype. I see very few practical applications.
When a gold rush happens, the people getting rich are the ones selling shovels. That's what NVIDIA is doing, and it was what they were doing with the crypto gold rush. It makes them a decent short term investment. When AI crashes, they will probably lose some value if they can't find a new technology gold rush. But even when the gold rush ends, AI will be here and be wanted, so NVIDIA has a place, has profit potential. Just like the .com bust of the early 2000s. Most of those companies bankrupted, but it wasn't like we abandoned the Internet.
So, let me tell you about my 1990s investments in Sun Microsystems…
Ha, there are certainly plenty of companies that didn't survive, and it possible someone comes along with eats NVIDIA's lunch. AMD is certainly giving them a run for their money on the graphics side.
Problem is that nvidia has the brand strength now. AMD has to be significantly better than nvidia now to overcome the disadvantage.
AMD knows all too well. By every objective measure their server CPUs are the best right now and Intel still has a bigger market share anyway. Every time you think AMD should have easily grabbed the lions share of the market, they somehow don't. People are stuck in their ways.
On the GPU side, they have to face an even stronger version of this and also have to contend with the reality that nVidia's software stack and game developer partnerships are still stronger than AMD even it AMD GPU is technically strong.
load more comments
(1 replies)
load more comments
(6 replies)
The number one app for companies right now is "we can replace a lot of people and save a ton of money", specifically look at the chatbot assistants you see on websites. Once they get the kinks worked out there, I guarantee they'll have a talking version that will replace call center workers. And that's only the beginning.
They've already run the numbers and figured the upfront costs are worth it. Occasional maintenance/cooling/upgrades/tech support is still going to be cheaper than FICA/Medicare/401K matching/PTO/maternity leave/overtime/workman's comp/running a huge HR department/family day barbecues, etc.
Just trading one type of equipment for another, in their eyes.
Chatbots? Is that it? That's what all the hype is about?
Hardly seems like a multi-billion dollar industry.
It's just the start though. It's going to spread to any and every thing they can think of. When's the last time a corporation said "Naw, that's off limits. We can't in good conscience monetize that."
It's just the start though. It's going to spread to any and every thing they can think of.
That's what I'm asking. What else will it "spread" to?
When's the last time a corporation said "Naw, that's off limits. We can't in good conscience monetize that."
I didn't realize this was an ethical discussion?
load more comments
(9 replies)
Oh there are practical applications if you know where to look. For instance I'm training a trading AI to spot patterns in numbers and indicators that aren't necessarily common knowledge.
if you know where to look.
I obviously don't.
I'm training a trading AI to spot patterns in numbers and indicators that aren't necessarily common knowledge.
For what purpose?
For what purpose?
The short version: making trading decisions based on technical data.
The long version: there are traders out there that do their operations using statistical formulas called indicators.
There are lots of such indicators out there, and hey, it's pretty easy when they all point one direction, but what happens if they don't? What happens if you only get a few conclusive indicators and the rest are inconclusive? What if you were to combine specific indicators to get a more conclusive answer?
If there is one thing AI is good at, it is exploiting numbers and patterns in service of a very specific and easily measurable goal. Mine is trading profits.
Yeah I don't buy it. People have been trying to create such algorithms for decades. Problem is no algorithm can account for the complexity and completely illogical decisions of humans.
Also, stock prediction can change the thing being predicted. Once a critucal mass of people believe in a certain prediction strategy, then their own actions screw up the prediction. It's not like predicting some natural or external thing.
load more comments
(6 replies)
But it’s a negative when his antics have helped erase more than $200 billion of shareholder value.
I'm guessing his reply to that is:
(Nelson voice) “ha ha!”
People shouldn't throw their Teslas in the water, whatever the way the stock performs.
Right, you're only supposed to throw car batteries in the ocean, throwing the whole car in is just littering.
load more comments
(1 replies)
lol
Tesla will be unable to compete with other cars soon. I would not buy the stock, except for short term bounce.
this post was submitted on 06 Feb 2024
460 points (99.8% liked)
News
28544 readers
3394 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 2 years ago
MODERATORS