this post was submitted on 27 Dec 2024
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I think that "exactly like" it's absurd. Bubbles are never "exactly" like the previous ones.
I think in this case there is a clear economical value in what they produce (from the POV of capitalism, not humanity's best interests), but the cost is absurdly huge to be economically viable, hence, it is a bubble. But in the dot com bubble, many companies had a very dubious value in the first place.
There is clear economic value in chains of bullshit that may or may not ever have a correct answer?