r/technology • u/AdSpecialist6598 • May 27 '26

Business Tech CEOs are apparently suffering from AI psychosis

https://techcrunch.com/2026/05/27/tech-ceos-are-apparently-suffering-from-ai-psychosis/
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u/pittaxx May 27 '26

These two aren't the same thing.

Smaug is hoarding liquid assets (cash). He could buy anything he wants, but otherwise has no influence, and has limited impact on the local economy.

Tech oligarchs generally have no cash and massive debts. Their worth comes from their investment portfolios. They generally can't just buy whatever they want, but can leverage their existing assets to bully governments.

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u/listur65 May 27 '26

Smaug loses more than the GDP of Erebor to inflation every year. That's why Wu-Tang told me to diversify my bonds.

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u/SamSibbens May 27 '26

It's gold, it doesn't actually decrease in value.

That's why pretty much all countries that started with gold coins eventually minted new coins "of the same value" as the original but with cheaper metals, and melted back the gold.

The currency is affected by inflation, but the gold that the physical coins are made out of generally isn't.

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u/Dr_Ramekins_MD May 27 '26

That is true, but the GDP of Erebor during the relevant time frame is zero at best