AI bubble

[Euler]

Anyhow back to the main thread topic. Valuations still look incredibly throthy. I can't believe that something I bought at $30 is now worth $1,000 per share.

[ForFolksSake]

Why would someone in Inverness be happy to support someone in Penzance?

... or someone coming across the French border illegally for that matter

[firlandsfarm]

[quote=Acheron post_id=389990 time=1780571254
Sorry if that makes me a commie!
[/quote]
Not at all . I can feel compassion towards family, friends and neighbours but I struggle with someone with a surfboard loafing on a Cornwall beach or someone who has travelled through half a dozen safe countries claiming to be looking for a safe country!

[firlandsfarm]

When it comes to values I think investors remember Intel and forgot Immos!

[ForFolksSake]

Isn't the resentment largely justified in such an unequal world?

... inequality could get a lot worse as a result of AI ?

" AI is widely expected to worsen inequality if left unregulated, as the economic benefits and productivity gains are likely to concentrate wealth among tech owners, investors, and highly skilled workers. However, under the right policy conditions, AI could also act as a great equalizer "

... and Britain’s welfare state is in danger of collapse if AI triggers mass unemployment, Sir Keir Starmer’s top lieutenant Darren Jones has warned

[jamesedwards]

Isn't the resentment largely justified in such an unequal world?

... inequality could get a lot worse as a result of AI ?

" AI is widely expected to worsen inequality if left unregulated, as the economic benefits and productivity gains are likely to concentrate wealth among tech owners, investors, and highly skilled workers. However, under the right policy conditions, AI could also act as a great equalizer "

... and Britain’s welfare state is in danger of collapse if AI triggers mass unemployment, Sir Keir Starmer’s top lieutenant Darren Jones has warned

It's already at risk of collapse. We're basically experiencing the cost of a 'Covid' every 2 years. It is totally unsustainable.

uk is fucked.png

[Euler]

The problem is that we never went back to pre-COVID levels of spending. Politicians were too afraid to scale things back and bring us into a more reasonable situation, so whatever the next crisis is, we're in big trouble.

[Big Bad Barney]

The problem is that we never went back to pre-COVID levels of spending. Politicians were too afraid to scale things back and bring us into a more reasonable situation, so whatever the next crisis is, we're in big trouble.

I'm curious what'll happen to liquidity on Betfair during this big trouble event? Do depressed unemployed people take their meagre rations to the track?

[Euler]

Volumes rose significantly during Covid. And then reset afterwards.

I suspect it's because people were sat at home with nothing to do.

[ForFolksSake]

so whatever the next crisis is, we're in big trouble.

... Ebola ...

[ForFolksSake]

so whatever the next crisis is, we're in big trouble.

... IMF 'bailout' if Burnham becomes PM

[ForFolksSake]

Anyhow back to the main thread topic. Valuations still look incredibly throthy.

I know Elon has the X-factor but I'm going to swerve Spacex ‍

[ruthlessimon]

The cyclical vs structural memory battle rages on

[ShaunWhite]

I'm curious what'll happen to liquidity on Betfair during this big trouble event? Do depressed unemployed people take their meagre rations to the track?

I've only got Betfair data for about 10yrs so hard to tie long term economics, but my read on it is that during times of lower net disposal income, they bet as often (transaction levels remain normal), but they stake less (traded volume dips) and liquidity stays fairly steady too (market makers still trying to make a living). Covid was an outlier with amazing volume but that's because most people were still being paid, or paid less but not spending it on travel etc.

Otherwise any economic downturn hits the leisure industry and gambling industry. People don't try to gamble themselves out of hardship because they haven't got the means to, they're actually more likely to bet when they feel flush.