My personal conspiracy theory is that the dot-com crash is intentionally downplayed because it really doesn't portray capitalists in a good light when they wasted so much money on startups with no viable business model.

[–] MrVilliam@lemm.ee 21 points 1 day ago (1 children)

It's a good thing they don't do that anymore, and the current obsession with AI is founded upon tangible value and provides something that people don't generally hate rather than just being a buzzword cheat code to get investors to fork money over now while people figure out a useful business model application for it later, all because "tech is complicated" so most people don't immediately see the scam that's happening. Man, wouldn't that just be thoroughly embarrassing if the AI gold rush had the same outcome as the dot com gold rush? That's why nVidia was such a winner; they're selling figurative shovels.

Actually, it'd be more embarrassing if it didn't happen, because it would mean that people didn't connect the dots. But people are flat earthers and antivax at an alarmingly increasing rate, so I really couldn't bet on the AI bubble bursting when these pins ain't sharp enough to get it done.

[–] BelieveRevolt@hexbear.net 11 points 1 day ago

First as tragedy…

[–] buttwater@hexbear.net 21 points 1 day ago (1 children)

Much quicker recovery though

[–] Tabitha@hexbear.net 12 points 1 day ago

yeah this chart would be a lot better if it had information on recovery.

[–] adultswim_antifa@hexbear.net 13 points 1 day ago

2020 had worse individual days but 2008 was about a year and a half of bad days. Top to bottom in 2008 was a little over 50% decline and top to bottom in 2020 was about 20%.