posted in Technology
Tesla falls 10%, Alphabet sinks 5% as AI spending concerns spook investors
www.cnbc.com/2026/07/23/tesla-tsla-alphabet-googl-stock-today.html
CNBCTesla, Alphabet lose hundreds of billions in value in post-earnings stock plungeBoth Tesla and Alphabet signaled higher spending as they invest in artificial intelligence.
Replying to @sanitation@lemmy.today
Please pop soon please pop soon
Replying to @popekingjoe@lemmy.world
Be careful what you wish for.
I’m no fan of AI, but the combination of swingeing tariffs and the 1929 crash lead to the Great Depression. We didn’t have that happen in 2000 when the dotcom bubble burst because adults were in charge of the American finance system. that is no longer the case.
The orangutan has already pushed the American economy to the brink, the inevitable bursting of this bubble is going to decimate the US, and unfortunately the size of the US economy means that will flow onto the rest of the world. Unless you are in a country that close enough to no trade with the US and limited international financial dependencies you will be severely impacted. North Korea fits the bill but I don’t really want to move there.
Actually I’m not so sure about North Korea.
This is a “law” I just made up but: in any crisis the poorest are the worst effected.
NK does have some trade with China and Russia, and they receive aid from places. I presume the ruling class supports itself through offshore investments and so on.
Replying to @fizzle@quokk.au
Don’t know about a law, but there’s plenty of empirical evidence that you’re broadly right, it is I suspect what the Epstein class are counting on in the US - they’ll come out unscathed and the masses will wear the impact.
I did pick North Korea for a reason though - they have an economy with very limited reliance on even China and Russia and have basically spent 70 years preparing for this. I genuinely can’t think of a country less likely to be directly affected. Second order impacts such as say Russian (or even Chinese) rogue military units seizing areas and pillaging are possible, but even then they are already at subsistence level in the main, so impact should be minimal.
It will be poor countries like Bangladesh who rely on selling sweatshop clothing into the developed economies that will be in the biggest trouble - exports will be decimated and they are already on the breadline.