Bonum Certa Men Certa

[Video] The Fake Economy and the Pump-and-Dump Scheme With Useless Gadgets and False Promises/Prophecies From Companies With Fake Valuations

posted by Roy Schestowitz on Dec 14, 2023,
updated Dec 15, 2023

Video download link | md5sum dc9e410fe7e88f61052c20563f04373b
Userbase, But No Business Model
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Preview for Userbase, But No Business Model

THE so-called "tech" industry isn't always about tech. It's sometimes about conning some investment firms (or people's pension schemes among other things) into "investing" in some farcical, unviable business plan or buying "shares" of a company, based on paid-for puff pieces ("planted" in the media as part of the "marketing" budget). This is how they inflate their supposed "worth" (if they're in debt they say "that's normal" and if they never actually make any money, as in income/profit being revenue minus expenses, they say "not yet!"). All sorts of fictional futuristic-sounding terms like "metaverse" are floated around to maintain a much-needed flow of cash (right into the money pit, never to be seen again). Vapourware and false promises are the norm, elevating into management position some of the best con (wo)men, charlatans, and liars. Plagiarism engines are mischaracterised as "chatbots" or "advanced AI" or "generative AI" while informed critics are maligned as "Luddites" who stand in the way of scientific and artistic progress.

What I'm saying should not sound eccentric. Do some basic research; it's rather close to what's actually happening in Wall Street, whose indexes are dominated by the supposed "worth" of very few companies that usually receive subsidies from taxpayers if not bailouts (or "stimulus" or whatever they call it these days; they keep making up new euphemisms to impede understanding).

The next video will speak about Gandi, but in this one I initially focus automatic content recognition (ACR) in "smart TVs" and so-called "voice assistants", which turned out to be a passing fad, costing some companies billions (in losses) and resulting in device shutdowns, mass layoffs, and even worse (bankruptcies, raids based on false pretexts, deaths, and Stasi-type regimes with a colossal repository of recordings inside people's homes).

"That makes a strong case for requiring FOSS in appliances" according to an associate, but I'd go further and argue that it's a case for appliances without an Internet connection, computer chips etc. There are many upsides to K.I.S.S. (keep it simple, stupid). Repair, cost etc. I don't need a toaster or a kettle that connects to the Internet, let alone one that comes with a computer chip.

Earlier this week one person said in Gemini: "I do not ever turn on WiFi. I am happy with how the device runs and am not interested in firmware updates, phoning home, or other shenanigans."

"Appliances will soon be unavailable without an active networked, Internet connection," the associate noted. This may as well be true, but companies will always exist that provide exceptions to this dire trend. "Not turning on the appliances' wi-fi will not be an option before long," the associate said. "It will be a prerequisite for using it. First to activate it, then later on to even just use it."

It seems likely that a toaster or a kettle without a computer will always be available. There are many practical benefits other than cost. If the market demands it, that may become or perpetually remain available. It's hard to believe they will pass laws which mandate toasters with microphones in them, to use one outlandish concept.

The video speaks a lot about companies which over time embrace "enshittification", looking for a way to finally make some money. One must identify and flag services/products that cannot make money, as "enshittification" or company shutdowns are inevitable. Either way, you lose.

As a side note, US national debt rose to unbelievable levels this year (expected to cross 34 trillion dollar shortly, perhaps in January). The clock is ticking. To put it in some perspective, it was around 22 trillion before COVID-19. So it basically surged ~50% in about 4 years. This is not normal.

US debt clock

In the latest month on record, the US was borrowing 200,000 million dollars (in one month). The prior month about 600,000 million or 20 BILLION DOLLAR PER DAY. This is not a solid economy, it's a bailout economy, wherein corporations and oligarchs suck all the capital and then moan about recession being caused by "lazy workers" (or "quiet quitters", "great resignation" among other victim-blaming myths).

When your government "creates" 20 billion dollars per day by merely borrowing money, maybe you're at the cusp of Ponzi scheme gone awry. Many companies will perish because they cannot be eternally sustained by bailouts. It deflates the currency, causes high inflation, leaves people unable to buy basics, and in turn fosters radical politics (see Argentina; it's the 1990s all over again)

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