Replying to an earlier post

This video on how much of the debt these companies hold is hidden from their balance sheets is chilling. According to this, Meta “officially” owes $151B, but in reality has debt obligations closer to $572B.

That’s over 40% of Meta’s entire market capitalization, and they’re rapidly adding to that debt. Meta’s existing properties are losing users, and there’s just no fucking way they’ll be able to pay back this debt in the long term, because they have zero hope of deriving income from all this data center investment. At some point, BlackRock and the other private equity firms Meta owes money to are going to come looking for blood

YouTubeThe AI Bubble Survives on $1.65 Trillion in Hidden Debtby Casual Finance

Replying to @⁨protist@retrofed.com⁩

I guess they’re waiting for Peter Thiel to save them, again, when he turns the data centers into data lakes for palantir and we go full surveillance state. I do believe there is some end game these tech billionaires believe is on the horizon that we aren’t really privy to, it’s just a matter of them making it come to fruition before reality crashes down on their heads. Bankrupting them faster through boycotts is a good way the average person can help speed up reality and slow down their progress.

Replying to @⁨CultLeader4Hire@lemmy.world⁩

I do believe there is some end game these tech billionaires believe is on the horizon

I think it’s just a variant of the standard republican “Reagan proved that deficits don’t matter”. They think financial wealth is something they can just create out of thin air using AI (the way that government creates wealth out of thin air by printing money, allegedly), so as long as they acquire the data centers to fuel it, by whatever means necessary, they’ll be all right in the end.

en