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Comment Re:Just demonstrates that valuations are nonsense (Score 2) 46

It's like there are at least two layers of funny money accounting going on here.

First, you have the strange way that people equate market cap with value. There's no guarantee that holding shares with a current market value of $X will eventually return $X or more in dividend payments plus maybe some eventual disposal of assets, and these are usually the only tangible values involved. A market cap based on ludicrously high P/E ratio will be high, but trading those shares is like trading Bitcoin: it starts to look more like a Ponzi scheme than a genuine value-based investment.

Second, even the market cap is mostly theoretical here, because any shares held can't be freely traded on an open market. The asset is almost completely illiquid other than occasional anomalies like the secondary sale we're talking about. The first IPO of an AI unicorn could be the pin that bursts the bubble.

It's the difference between being one of the AI unicorns that doesn't actually make any real profit yet and is largely funded based on hype and hope, and being a supplier like Nvidia that is actually being paid real money (funded by all the AI investment) and has a P/E ratio that is high but not off-the-charts stupid.

Comment Re:I'm not convinced this SIM farm was special (Score 4, Informative) 47

Technically, they Secret Service has jurisdiction over crimes committed with computers. They don't normally do much with it, and when they do, they have a history of not doing it well, but legally, they certainly can.

In this case, I'm sure you're right, they got involved because of threats to public officials, which is something they do a lot of (along with chasing counterfeit money).

Comment Re:Yep, because it's all MAGA Media now (Score 1) 195

He banned the Associated Press because they don’t kiss his ass. https://ancillary-proxy.atarimworker.io?url=https%3A%2F%2Fwww.npr.org%2F2025%2F02%2F24...

And AP still covers him.

You’d have stroked out if Obama banned Fox from the white house.

I'd have laughed just as hard, since Faux News is every bit as much a joke as the Communist News Network and all the rest.

Comment Re:If they cannot find them then train them (Score 1) 106

And yet, stock prices go up and down for almost all companies when CEOs or other high-ups do smart or stupid things on the internet. That includes Musk and his various companies. There's even peer reviewed research on the subject, though obviously, masturbating furiously over how much one hates Musk is far more important to some than facts.

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