Here Comes Another Bubble v1.1 - The Richter Scales

Per The Richter Scales, 17 frickin' years ago: Hire yourself an engineer, Feed him pizza, buy him beer, Give him just a fraction of a fraction of the pie. ▶ this video Let's face it folks, the party was doomed to only last a short while before the managerial class took over.

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Of course it is. FTX collapses (November 2-11, 2022), crypto hustle-scam is over, the decision is made to release whatever there is at the moment at OpenAI to start the next cycle, a few weeks later (November 30, 2022) there we go. Same thing as always: some investors -- mostly white males -- get filthy rich meanwhile some others get exploited -- this time it's Kenyan workers -- and many, many people get hoodwinked and then lose their shirt. Same story, different hype. ▶ this video did everyone forget? I guess. At we got something out of web2.0 ... but we also got a genocide and a few warped elections / referendums out of it so the jury is still out how history will see it. Crypto was a net negative for humankind in every possible way (except a few people walked away with tons of money of course but at what cost) and now we are facing down this terrible wave of AI. Yay?

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Longer. This Richter Scales "Here comes another bubble" video was 2007. ▶ this video Obviously 2008 did see something of a drop in general so I guess they were right for the near term. But they were specifically ragging on companies that you'd have done very well with over the next decade+ even if you had bought in 2007.

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The article is from oct 2007(*fixed), around the same time of the video: "Here comes another bubble" ▶ this video

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In 2007 there was viral video suggesting that Facebook is overvalued at $15bln comparing to Ford: ▶ this video Lets see how the story will unfold.

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I find it interesting that this was made in 2007, before Lehman and before the great recession: ▶ this video Can there be a bubble bubble? Instead of irrational exuberance you have irrational cynicism?

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I just listened to the Richter Scales' "Here Comes Another Bubble" last week. I would repost it as a thread, but I'm not sure how well it'll fare, so here it is on all its glory. ▶ this video When was the song released? December of 2007.

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Thiel says: "Back in 2008, we heard talk of another tech bubble, because people thought Facebook was overvalued at $500 million. Flash forward to today, and it’s clearly worth a lot more than that." Did this happen? Who in 2008 was talking about Facebook at $500 million, and complaining it was overvalued? People around that time were talking about Facebook at $15 billion being overvalued (e.g. [link] , ▶ this video ).

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Or, from 2007, The Richter Scales - "Here Comes Another Bubble": ▶ this video "build yourself a rocket ship / blast off on an ego trip" – lmao

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make yourself a million bucks partly skill, mostly luck now you can afford a down payment on a small house ▶ this video

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> Started with 15% but got diluted to 1% after several rounds of funding including down rounds. haha WOW oh my god, and the software engineers getting a fraction of a fraction of a percent and being "reassured" that its a generous offer! ▶ this video

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This was a good article to read. Less seriously, back in hn, re: "we're going to change the world!" ▶ this video

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Relevant: ▶ this video , [link] , [link] More seriously I wonder why random signals that appear to be noise but if noticed are actually quite pertinent to predicting trends have such a great effect on people. Example follows: Kennedy later claimed he knew the rampant stock speculation of the late 1920s would lead to a crash. It is said that he knew it was time to get out of the market when he received stock tips from a shoe-shine boy Source: [link] . For example if my mom came to me with an investment decision my response would be a big fat no - might even go out and look at it for a short. If my hairdresser recommended a stock to me - I'd feel immediately like selling. These are by definition low signal events that should be classified as pure noise - but they seem to be a rather useful thought model. So party like it's 1997 - get in and get out.

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some of that stuff can be found in the Richter Scales parody of the same Billy Joel song... ▶ this video college humor vid reminded me of this.

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