I find it very hard to believe this can sustain into the longterm as a basis of value relative to real goods and services.
But, having said that, I'm basically confronting a bunch of people in the economics field who tend to say "you're wrong" when I say this kind of thing.
How can a single entity making something so completely orthogonal to mining, metals production, food, clothing, plastics, oil, medicine be worth more than any other company existing? It defies logic.
Isn't this the very definition of a bubble? I understand they make things. But, the contribution of those things to real goods value is infinitessimal. Their contribution to intellectual property, and value inherent in other bubble/meme things like AI, I can get. So, if you believe we're facing the Kurzeweil uplift into the singularity, being the chip maker behind the machines we're going to live in is value, but I am not in that tribe.
I'm not seeking to start a wankwar, I really don't understand how this can be true as a perpetuating state of affairs.
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[ 3.1 ms ] story [ 20.5 ms ] threadBut, having said that, I'm basically confronting a bunch of people in the economics field who tend to say "you're wrong" when I say this kind of thing.
How can a single entity making something so completely orthogonal to mining, metals production, food, clothing, plastics, oil, medicine be worth more than any other company existing? It defies logic.
Isn't this the very definition of a bubble? I understand they make things. But, the contribution of those things to real goods value is infinitessimal. Their contribution to intellectual property, and value inherent in other bubble/meme things like AI, I can get. So, if you believe we're facing the Kurzeweil uplift into the singularity, being the chip maker behind the machines we're going to live in is value, but I am not in that tribe.
I'm not seeking to start a wankwar, I really don't understand how this can be true as a perpetuating state of affairs.
Is NVDA a shovel-seller, or a steel-maker?
Some more discussion: https://news.ycombinator.com/item?id=40720090