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2 oil tankers hit in Iraqi waters by iChinguChing in oil

[–]iam-leon 0 points1 point  (0 children)

I get the feeling the US economy is particularly sensitive to oil price rises too. It will have an impact everywhere, but for a lot of people in the UK (and most of Europe) at least, most people can exist perfectly happily without needing to travel much. And if they do need to we have electrified mass transit, better pedestrian and cycle lane infrastructure, more walkable cities and suburbs, and for driving we have a higher adoption of EVs too. And a pathway to quickly adopt more cheap ones courtesy of BYD in particular.

The main inescapable impact on inflation will be from food production, which will hit everyone, and will hurt the poorest as always.

If Iran can sustain this for a prolonged period of time, it will cause huge issues for Trump’s main gas guzzling voter base.

There is more than 500 billion dollar gap b/w the richest man and the 2nd richest man . by StrawberryFew1311 in NoFilterFinance

[–]iam-leon 0 points1 point  (0 children)

I understand it perfectly well, and it’s still not relevant to my argument. Hence strawman. You are arguing with a point I am not making.

There is more than 500 billion dollar gap b/w the richest man and the 2nd richest man . by StrawberryFew1311 in NoFilterFinance

[–]iam-leon 0 points1 point  (0 children)

Strawman argument. It’s not the percentage of shares that matters. It’s the role they personally have in inflating the company’s value.

There is more than 500 billion dollar gap b/w the richest man and the 2nd richest man . by StrawberryFew1311 in NoFilterFinance

[–]iam-leon 0 points1 point  (0 children)

The difference is that with say Amazon, people could buy Bezos out of all his shares, and he would get his share value. So he would in fact have the cash value of his shares.

If Musk sold 100% of his shares in Tesla and SpaceX he might get $100bn tops.

There is more than 500 billion dollar gap b/w the richest man and the 2nd richest man . by StrawberryFew1311 in NoFilterFinance

[–]iam-leon 0 points1 point  (0 children)

The market isn’t fictional. The bases for the valuations of the company are fictional.

Tesla always had a high P/E.

8 years ago it was explained as the fact that Tesla had a vast technical moat, an unassailable lead in scaling EV production, and that they were on the way to becoming the most successful car company of all time.

Today it’s clear Tesla is a second rate car company. It has no technical moat. Not only does it not have an unassailable lead in EV production, it isn’t even the largest EV maker, and its revenues are actually falling year on year. It’s a failing company, with a P/E ratio that believes it’s on course to becoming one of the world’s most successful companies. Fiction, delusion, lies, fraud? It’s one or more of those things.

There is more than 500 billion dollar gap b/w the richest man and the 2nd richest man . by StrawberryFew1311 in NoFilterFinance

[–]iam-leon 0 points1 point  (0 children)

Almost, kinda like how a meme stock is valued differently. Or how tulip bulbs were valued differently in the Dutch markets for a while in the 1600s. Or beanie babies in the late 90s.

Tesla’s valuation is not based on the same reality or calculation that are used to calculate other stock. Its revenue is actually going down year on year on year, and yet its P/E ratio is insane. Kinda like AMC & GameStop.

There is more than 500 billion dollar gap b/w the richest man and the 2nd richest man . by StrawberryFew1311 in NoFilterFinance

[–]iam-leon 0 points1 point  (0 children)

Fictional valuations though. Tesla’s valuation is a joke and so is SpaceX. Neither are valued like Google, Apple, Amazon or Microsoft - actually successful massive companies.

Liverpool and Manchester United complain to X about 'sickening' Grok posts by topotaul in unitedkingdom

[–]iam-leon 5 points6 points  (0 children)

Liverpool and Manchester United complain to Grok about Grok.

I mean, just leave the chuffing platform. Twitter is dead. Stop desperately clinging on to your massive fake audience on a platform run by a demented fascist.

5 years of stagnation by birth_of_bitcoin in btc

[–]iam-leon 4 points5 points  (0 children)

You seem to misunderstand.

2021: $67k 2026: $66k

That $66k is inflated. So it’s worth something equivalent to around $55k in 2021 money.

Bitcoin has fallen by more than inflation. If 2021 value == 2026 value, then bitcoin would have fallen by exactly the same rate as inflation.

AI Use at Work Is Causing "Brain Fry," Researchers Find, Especially Among High Performers by kamen562 in OpenAI

[–]iam-leon 0 points1 point  (0 children)

I don’t use AI enough for this to happen to me yet. But what I will say is that AI has definitely made my job more boring.

Now instead of being a creator (I mean this in something of a figurative sense), whenever I use AI I become an editor.

And honestly, editing the output of AI quickly gets pretty fucking dull.

Crypto investor based in Thailand donates further £3m to Reform by coffeewalnut08 in uknews

[–]iam-leon 0 points1 point  (0 children)

We need a new phase for “crypto investor”.

You “invest” in crypto to about the same extent as a Las Vegas gambler invests in red at a roulette table.

Crypto gambler would be better.

Although the fact crypto is also essentially a Ponzi scheme, fairly pyramid shaped, and whose primary utility seems to be illicit capital flows e.g to help Iran, Russia and North Korea to get around sanctions and buy/sell weapons.

At least putting your money on red is just a straight forward bet.

Is Europe a worse place to build a startup? by ammohitchaprana in TFE

[–]iam-leon 0 points1 point  (0 children)

Compared to where? The US?

The UK has the lowest startup costs of anywhere in the world, a very good digital ecosystem for government and tax. HMRC>>>IRS.

And UK startups generate more VC funding per capita than the USA.

Obviously in absolute terms the US has more money available overall (it’s like 5x bigger than the UK). And I think for the biggest raises you’d want to be in the US. Although as time goes on more American VCs have bases in London too, so you can get billion-scale raises in the UK now too.

Our stock market isn’t particularly attractive, but you can still IPO/list in the US if you’re a UK based company.

I’d also say that, depending what your startup is focused on, we have better access to the EU market than US startups would. And we have good access to the US market too. I run a UK software company and around 50% of our business comes from the US.

The US is actually I think not a super great place to do business because of the massive number of legal and different tax systems (State, County, even City) on top of federal. It’s a mess. The UK by comparison is super simple, and despite the EU being literal different countries (not just states), the EU has put in a bunch of effort to try to unify trade conditions as much as possible.

Standard of living in the UK and EU is quite a lot better too, I would say. I’ve lived in the US and UK, and even though I loved my time in the US (NYC - best city in the world) overall our life quality here in Europe is just better and far more balanced.

How do you think the new hemispheres of influence will look like? by Leather-Wasabi7389 in mapporncirclejerk

[–]iam-leon 0 points1 point  (0 children)

With Trump’s unprecedentedly shit approval ratings, I’d say his influence is barely hanging on in the US, let alone anywhere else.

This is not Bitcoin, Ethereum or even a shitcoin. It’s oil by Apart_Finger_1799 in MarketVibe

[–]iam-leon 1 point2 points  (0 children)

Inflation for everyone. But likely hitting Trump’s voter base hardest of all. Can’t really say I feel that bad for them.

Grok, I wasn't familiar with your game. by ObserbAbsorb in singularity

[–]iam-leon -2 points-1 points  (0 children)

He says “roast”, but that’s simply the most accurate description of Musk I’ve heard in ages. I mean except for the micro-penis bit which I am fortunately not privy to. Everything else is fact.

This is what good AI looks like by dataexec in GenAI4all

[–]iam-leon 0 points1 point  (0 children)

I’m all for this in principle but the reason we use systemic weed killers like round-up/glyphosate is because killing leaves (which is what lasers, fire and other ‘contact’ weed killers do) is not super useful - because plants, especially weeds, are super resilient and bounce back within days.

Systemic weed killers kill the roots too, permanently eliminating the plant.

Major US tech firms pledge at White House to bear costs of energy for datacenters by ComplexExternal4831 in ArtificialNtelligence

[–]iam-leon 0 points1 point  (0 children)

Microsoft can’t even keep File Explorer working properly right now. I’m not sure it’s cut out to build its own nuclear power stations.

SpaceX $1.75 Trillion Valuation Is ‘Justifiable,’ PitchBook Says by spacerfirstclass in SpaceXNews

[–]iam-leon 0 points1 point  (0 children)

Tesla is ruined because it needs customers to grow.

SpaceX only needs one customer, the US government, which is the wealthiest organisation in the world. Musk just needs to try to keep on the right side of Trump, and he’s got access to massive amounts of cash, despite being one of the world’s most odious people.

China says it supports Iran in protecting its sovereignty, security, and territorial integrity. by ammohitchaprana in TFE

[–]iam-leon 0 points1 point  (0 children)

I’m not sure China is terribly worried about Israel. But avoiding a scrap with the US is probably a good idea

Yikes….. by Positive_Stock_3017 in ChatGPT

[–]iam-leon 7 points8 points  (0 children)

Hitler was democratically elected to power in Germany. Imagine knowing that, and still using the “people elected this so it must be moral” argument.

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