this post was submitted on 28 Jul 2026
230 points (99.6% liked)

World News

57330 readers
1267 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 3 years ago
MODERATORS
top 29 comments
sorted by: hot top controversial new old
[–] givesomefucks@lemmy.world 67 points 4 days ago (3 children)

Investors may also be growing jittery about the “circular funding” at the heart of the AI industry, through which artificial intelligence firms finance one another.

On Monday, the Wall Street Journal reported that Nvidia was in discussions with OpenAI about providing $250bn (£188bn) for a massive datacentre project in Ohio. Backing from Nvidia, which has an investment grade credit rating, could make it less expensive to raise funding for the project.

Literally the only thing they have is circular funding...

The only people that can afford to build data centers, are the people selling chips to data centers...

That should set off alarm bells in any rational mind, because even after built, no one has a plan to monetize it.

There's no path to long-term profits here, everyone not in the circle is just assuming they'll be the first ones to decide to pull out.

If enough gets pulled, it makes the rest panic and there will be a crash.

It's gonna happen, because there's too much money at stake for investors to risk it. One day we'll just hear that it's over and have to deal with the mess.

[–] unitedwithme@lemmy.today 29 points 4 days ago (2 children)

I just hope Sam Altman goes to jail. But he's worth too much now so it'll be a slap on the wrist.

[–] SaveTheTuaHawk@lemmy.ca 22 points 4 days ago (2 children)

Musk should have been in jail for fraud years ago.

[–] PalmTreeIsBestTree@lemmy.world 9 points 4 days ago* (last edited 4 days ago)

I hate that man for taking so much American tax payer dollars that should have gone to NASA…that and all the other horrible shit he did with DOGE, etc.

[–] Witchfire@lemmy.world 8 points 3 days ago* (last edited 3 days ago)

His repeat Nazi salutes should've ended bis career in a just world, but somehow 1/3 of the population would rather support Nazi incel pedos over their neighbors

Hell, the whole Epstein class deserves nothing less than life in prison at this point, and that's the moderate position

[–] givesomefucks@lemmy.world 24 points 4 days ago

"now"...

Seriously, we can't limit ourselves based on what we've seen in our lives.

With a progressive president and Congress to back them up, we could 100% just say we're seizing their money and throwing them in prison.

Fuck it, there's honestly nothing stopping us except learned helplessness.

Take the wealth they stole from us, put them in prison, and just don't let them out.

They would 100% do it to us. Our society doesn't benefit from them being here, they don't pay taxes or do anything to pay us back. So whether they abscond and we only get domestic assets, or they're dumb enough to stay and we get everything.

Either way, we benefit.

And before anyone mentions shell companies, yes, we would also need to finally crack down on those too. If you're hungry and thirsty you don't do neither, you do both.

[–] runner_g@piefed.blahaj.zone 10 points 4 days ago

And when it's over, like a vulture defending on a carcass, we will see Spirit Halloween swoop in.

[–] abbadon420@sh.itjust.works 7 points 4 days ago (1 children)

It would be funny if quatum chips took a massive development boost all if a sudden. Making them exonomically feasible and making all thise datacenters effectiveky obsolete. That's not going to happen, but one can dream.

[–] Nighed@feddit.uk 6 points 3 days ago

Different types of problem. Quantum computers won't be competing over the same workloads.

[–] plz1@sh.itjust.works 33 points 4 days ago (3 children)

The only thing separating this from being a Ponzi scheme is that there is a product, and it does have value. It's overblown for sure, but it's not a pure Ponzi scheme.

[–] Sanctus@anarchist.nexus 15 points 3 days ago (1 children)

LLMs will bounce back to local GPUs when they find out its really hard to keep this circular grift going just for surveillance. Turns out you actually need to extract money from the workers to pay for this, so those workers need money and can't just be replaced with AI.

[–] FunnyUsername@lemmy.world 6 points 3 days ago

i used googles LLM to help me code a python script to completely replace my fake cloud ai twitch streaming companion with one that runs entirely on my own machine no internet required so now i don't need googles LLM

[–] thanksforreading@lemmy.ml 8 points 3 days ago

The product doesn't deliver on it's promise though. It's going to crash and burn real hard and we will be left holding the bag as usual.

[–] Sasquatch@lemmy.ml -2 points 4 days ago (2 children)

Isn't the lack of product the primary criteria for defining a ponzi scheme?

[–] 4am@lemmy.zip 12 points 4 days ago (2 children)

Literally the entire point of the comment you replied to, like making exactly that point.

Like; it’s not saying it’s a Ponzi scheme, it’s saying that this does everything a Ponzi scheme does, but with an extremely overvalued product, instead of no product at all.

so we don’t have a name for this type of fraud specifically, and we’re not calling it a Ponzi scheme because that, as we established, means something else. But it works very similarly, in the logistical sense. So much so that we can succinctly describe it - not by enumerating all the things it is - but instead juxtaposing it against a Ponzi scheme and establishing that it’s the same except if you change this one thing.

Perhaps we should name it instead? Like a Fauxnzi scheme? Like pronounce it like Fonzie so it’ll catch on with boomers? I mean maybe Henry Winkler doesn’t deserve all that but it’s descriptive no?

[–] Flower@sh.itjust.works 3 points 3 days ago

Pyrite rush, like a gold rush but with fool's gold.

[–] Witchfire@lemmy.world 1 points 3 days ago

Just name it after all the key players

[–] Klear@piefed.world 3 points 4 days ago

Yeah, that's the point.

[–] Gates9@sh.itjust.works 22 points 3 days ago
[–] Jaysyn@lemmy.world 16 points 3 days ago
[–] rockSlayer@lemmy.blahaj.zone 9 points 4 days ago (2 children)

Is this it? Is this the crash?

[–] Olap@lemmy.world 13 points 4 days ago (1 children)

No, there is runway here yet. Essentially Trump will keep it liquid until he leaves

[–] testaccount372920@piefed.zip 9 points 4 days ago (1 children)
[–] ndupont@lemmy.blahaj.zone 6 points 3 days ago* (last edited 3 days ago) (1 children)

Not sure he will leave. EDIT: leave

[–] GreenBeard@lemmy.ca 3 points 3 days ago

I'm sure he'll try. He knows that the only thing between him and a gallows is the stock market. If the ultra wealthy can't or won't protect him while they're busy dealing with other problems, he's going to have a bad time.

[–] Malyca@lemmy.zip 1 points 3 days ago

Soon I think

[–] SeeMarkFly@lemmy.ml 7 points 4 days ago

You were warned and you chose to ignore the warning. That's...how...balls...bounce?

[–] ms_lane@lemmy.world 1 points 4 days ago

Marge, the rains are here!

[–] tlekiteki@lemmy.dbzer0.com -1 points 4 days ago

guess: false