For some historical context, WeWork got BB- from Fitch and B from S&P but only wanted to raise $500m at IPO. Still not sure how you justify BB or any 'high' junk rating tbh www.ft.com/content/5938...

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Also leading to a great, if unfortunate, band name that might also be familiar to Canadians. en.wikipedia.org/wiki/Payolas

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cold take: I usually think people gleefully posting stock market declines for big tech companies is a very ineffective form of schadenfreude because they tend to go back up after. I also think this Intel screenshot right here is an extremely funny coda to "the US tries to do state capitalism"

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My own take on the AI bubble is: - Image and Video generation are ridiculously unprofitable and basically only exist because they're run at a loss - Inference and text-generation have low enough costs to be profitable but OOMs too little earning potential to justify spend

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Stock market took a hit today because Google was forced to admit that their gen-AI search results are *costing* them money, not *gaining* money. Ads in both Google and ChatGPT are not currently generating even slightly enough return to offset operational costs. who could have ever seen this coming

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