Is There a New Dotcom Bubble?

#603
Juan said:
Lex. BlockFi/FTX: further collapse suggests ecosystem is unsustainable
Click to expand...
This BlockFi and FTX fiasco was a pure scam but it's not actually crypto. They were centralised entities.

Real crypto is decentralised which has separate issues but is rapidly advancing.

JP Morgan wrote a very interesting article about their thoughts of centralised vs. decentralised crypto trading just this week.

Money gets lost sometimes in DeFi due to smart contract failures that lead to hacks but everything is public so you know that nobody is taking your money and using it for other purposes without your knowledge like how FTX did.
 
#609
Very bad close for the NASDAQ today. The outlook is darkening.

The US job market is strong enough to support higher interest rates.

The FED should raise another 75 points next week, and look at higher rates (6 - 7 % at least).
 
#612
There should be an investigation to find out how many EU politicians were bribed by American Big Tech:

Live news: Facebook owner Meta hit with EU antitrust complaint

EU politicians have allowed Big Tech not to pay taxes in Europe and not complying with European laws on privacy and data protection for a good 10 years or more. This should be investigated in depth.
 
#613
Juan said:
Bye bye Musk:

Twitter users vote to remove Musk as chief executive

Owner of social media platform had said he would abide by result of poll
Click to expand...
The poll was just a red herring anyway. Musk wanted out of Twitter as soon as he acquired it. This just gives him a way to bow out without losing face. I would put money on the fact that his own bot accounts made up the majority of "who" swung that vote.

Where Musk's credibility actually lies now:
  • is with who gets instated as Twitter's new CEO (is it someone who upholds freedom of speech and information?).
  • and whether he drops the bomb ▼ or not.
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#614
Damocles said:
The poll was just a red herring anyway. Musk wanted out of Twitter as soon as he acquired it. This just gives him a way to bow out without losing face. I would put money on the fact that his own bot accounts made up the majority of "who" swung that vote.

Where Musk's credibility actually lies now:
  • is with who gets instated as Twitter's new CEO (is it someone who upholds freedom of speech and information?).
  • and whether he drops the bomb ▼ or not.
View attachment 52426
Click to expand...
I would not put any of my money on Musk's enterprises. In the long run, they are all a fiasco. He is just the classical speculator, good at selling worthless stuff, artificially creating a hype and publicity about useless companies.
 
#615
Times are changing:

Bank of Japan stuns markets with yield control policy change

The FED will also keep interest rates higher for a longer period: higher rates for several years. This is going to kill Big Tech, that will also face trouble in Europe due to unpaid taxes, and big fines due to all the laws they have broken.

Amazon, Meta, Airbnb etc are carrying out massive lay offs, and this is just the start. Another round of lay-offs is likely, following the obvious drop in revenue.
 
#616
The NASDAQ index is going down the drain. Even so, there are stocks that are floating at three times the price of 2019 = EXPENSIVE!!!

Tesla will be a fiasco too. And Musk... what can I say about him? Everyone hates him... another useless clown.

By the way, I know a few people who own Teslas in Spain and they're all getting rid of them. They say those cars are a nightmare when they have to be repaired, or when components are needed...

Amazon is on the focus of the EU regulators. They have been breaking the law too often and in the end they will end up paying a big fine, plus back taxes, money they owe to the IRS and decided not to pay (ilegally).

The EU needs money and even though politicians are corrupt and routinely greased by these companies. They need votes to keep their seats. And citizens are really angry right now, and want everyone, including Big Tech, to chip in and pay their share of taxes.
 
#617
Juan said:
Tesla will be a fiasco too
Click to expand...
The Norwegians seem to like the Tesla cars.

This year, in 2022, the Tesla Model Y broke the record for a single model car sales that was set by Volkswagen Beetle all the way back in 1969. Took 53 years for that record to be broken.

And 80 percent of all new car sales in Norway are pure battery-electrics. 90 percent if hybrids are included.

Amazing.

Tesla Model Y beats best-selling car record in Norway
 
#618
lymebite said:
The Norwegians seem to like the Tesla cars.

This year, in 2022, the Tesla Model Y broke the record for a single model car sales that was set by Volkswagen Beetle all the way back in 1969. Took 53 years for that record to be broken.

And 80 percent of all new car sales in Norway are pure battery-electrics. 90 percent if hybrids are included.

Amazing.

Tesla Model Y beats best-selling car record in Norway
Click to expand...
Yes, but I remember a Norwegian member of this forum saying in Norway those Tesla cars are so heavily subsidised that they cost less than a Nissan Qashqai... so Tesla is not selling in "market conditions", the government is basically giving away the cars.
 
#619
If antitrust authorities finally decide to do the job they're paid for, these companies will have to split and break up in smaller and competing units

Meta and Alphabet lose dominance over US digital ads market

It is about time that antitrust laws are respected, specially in the EU, where Margrethe Vestager has been putting on a show for years without getting any real results and without recovering any sort of money for the EU, for all the laws Big Tech has broken in Europe.

How is it possible that Uber and Airbnb did not pay VAT??? Come on... really???
 
#621
The Spanish press reports that deliveries related to Black Friday and the Christmas period have fallen by at least 6%.

So there's less people shopping, less money spent, and less goods being delivered.
 
#622
Juan said:
So there's less people shopping, less money spent, and less goods being delivered.
Click to expand...
Finally some good news? Degrowth is the goal, as understand it to be?

"As the flaws in the currently prevailing paradigm of unfettered growth become ever more apparent, degrowth is increasingly regarded as a tangible alternative. Far from a radical notion confined to the realm of abstract debates, it may hold the key to a more just and sustainable world. An ambitious new book, The Future is Degrowth: A Guide to a World beyond Capitalism (Verso, 2022), sets out to be a roadmap towards a future without growth."

https://www.greeneuropeanjournal.eu/is-degrowth-the-future/
 
#624
Here a bunch of my friends are selling their Teslas. Apparently after sales service (repairs, spare parts and replacements etc) is just non-existent.

It's best to stick to an old Toyota than having a Tesla. At least there are repair shops and parts for Toyotas haha.
 
#625
Juan said:
At least there are repair shops and parts for Toyotas haha.
Click to expand...
I crashed my Nissan hatchback into a deer and had to get it repaired at the collision center. When I picked it up yesterday, out of curiosity I asked them if they work on Teslas. They said they had not, but that what they do is refer Tesla people to certified Ford collision centers because they know how to work with aluminum panels.

As I understand it, most Tesla repairs can be done by their mobile service technicians, they come to your house and fix it in your driveway. But collisions obviously cannot be done that way.
 
#626
lymebite said:
As I understand it, most Tesla repairs can be done by their mobile service technicians, they come to your house and fix it in your driveway. But collisions obviously cannot be done that way.
Click to expand...
I think that may be the case in the US, but in Europe, and particularly in Spain, that's an altogether different thing. There is just no after sales service, repair shops etc., and this will be a stone in the path for growth, generally of electric cars, and particularly of Teslas (electric cars are expensive here...)

My personal feeling is Musk is strapped for cash due to his failed bet for Twitter, and now he is selling Tesla stock too, although of course he will not confess to it...
 
#627
Juan said:
and now he is selling Tesla stock too, although of course he will not confess to it..
Click to expand...
Every time he sells Tesla stock, he has to declare it publicly. He sold more recently. He also used some of his stock as collateral for the loan he got to buy Twitter so he might be margin called on that soon if the price keeps going the way it is.
 
#628
Crypto is a big scam. This was obvious to me from the very beginning. Now there's no one defending crypto. Every week new bankruptcies related to "crypto-currencies" are on the news; there are also crypto "executives" who ran away with the money of "investors", and news about fraud every day...

US charges crypto trader with fraud in Mango Markets case

The NASDAQ is the other obviously overvalued market. The stock capitalisation of Tesla is just too high, a ridiculous valuation, and same goes for the rest of the FAANG stocks...
 
#629
Juan said:
Crypto is a big scam. This was obvious to me from the very beginning. Now there's no one defending crypto. Every week new bankruptcies related to "crypto-currencies" are on the news; there are also crypto "executives" who ran away with the money of "investors", and news about fraud every day...

US charges crypto trader with fraud in Mango Markets case

The NASDAQ is the other obviously overvalued market. The stock capitalisation of Tesla is just too high, a ridiculous valuation, and same goes for the rest of the FAANG stocks...
Click to expand...
That guy who exploited mango was so dumb. He talked about how he stole all the money publicly under his real name. There's a quote from him "what are you gonna do, arrest me?", then he's arrested 3 months later lol.
 
#630
SmallRonnie said:
Every time he sells Tesla stock, he has to declare it publicly. He sold more recently. He also used some of his stock as collateral for the loan he got to buy Twitter so he might be margin called on that soon if the price keeps going the way it is.
Click to expand...
Elon Musk is just a charlatan, and those who trusted him will lose their money.

The NASDAQ in general is incredibly overvalued. Those companies will not do well in a context of increasing interest rates, less demand, and less spending...

Consumers have "left their wallets at home" and won't be spending much in 2023. Inflation will take its toll.
 

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