Microsoft's "valuation depends on infrastructure that does not exist."
Indeed!
Months ago: Definitely Not a Ponzi Scheme
This month: So You Should Definitely Call it "Slop" and Stop Saying "AI"
Bitcoin "value":
Microsoft "value":
Microsoft is not worth trillions (nor are others). Microsoft is very deep in debt, it's firing like mad (30,000+ layoffs last year), and it's even shutting down its own library in pathetic cost-saving moves. Recently it even shut down an easy-to-operate database of CDs (albums). Why?
Why would a company that claims to be worth a lot behave this way?
As we put it months ago: Microsoft Behaving Like It's Running Out of Money to Pay Salaries
Doc Searls now correctly points out what we did months ago in "The GPU Bubble":
"Microsoft's CEO admitted GPUs are sitting in warehouses unplugged.
Not demand. Not defects. Power.
Transformer lead times: 4 years
Grid interconnection queues: 8 years
NVIDIA backlog assumes: 18 months…
$4.5 trillion valuation depends on infrastructure that does not exist.
In a properly-functioning market, closure would be forced/imposed to stop this Ponzi scheme defrauding any more unwitting victims. But not in the US.
This is just another "Enron" or "crypto" with more honourable connections in the media (or bribes). The "value" is fabricated, made up, created out of thin air. █