Peter Thiel dumps entire Nvidia stake, slashes Tesla holdings amid bubble fears By Investing.com
https://au.investing.com/news/stock-market-news/peter-thiel-dumps-entire-nvidia-stake-slashes-tesla-holdings-amid-bubble-fears-4128704
238 points · 37 comments · view on lemmy.world
37 Comments
tabarnaski@sh.itjust.works · 63 pts · 281d
I don't know if Thiel is a smart investor, but if this is on of the first sign of the AI bubble burst, yay!
overthere@lemmy.dbzer0.com · 98 pts · 281d
He invested $800M in Yahoo! In 2008 and lost it all, among a whole series of other fuck ups. I think he’s an illustration of the rule that if you’re rich enough you don’t have to be very good at anything
NuXCOM_90Percent@lemmy.zip · 29 pts · 281d
Yeah. "Genius investors" are just people who have insider information and know how to cover their tracks (or don't need to).
Otherwise? Diversify and just ride the general economy. Barring insider information, it wins every single time.
Maybe thiel has insider info. Maybe not. Pretty much everyone assumes this is a bubble that will pop. I am a lot more skeptical (how many "bubbles" have we had that mostly just petered out or readjusted to reasonable levels?). But there is also an argument to get out while it is "high enough" and leave others to hold the bag if/when it does pop.
NABDad@lemmy.world · 13 pts · 281d
I think for most people that means some weeks you buy food, some weeks you pay rent.
LifeInMultipleChoice@lemmy.world · 9 pts · 281d
Yeah, but also if your rich enough, you accidentally decide crashes. Him selling almost surely caused others to sell, and many to become skeptical.
Tollana1234567@lemmy.today · 2 pts · 280d
and then later ORACLE bought yahoo, and shut down yahooanswers, cant forgive them for that.
halcyoncmdr@lemmy.world · 7 pts · 281d
He's not. Nvidia is the only company actually making money from this. The bubble bursting doesn't really hurt them at all. Their company isn't based solely on AI, and they have plenty of other baskets to shift their eggs into.
bigfondue@lemmy.world · 19 pts · 281d
halcyoncmdr@lemmy.world · 8 pts · 281d
Yeah, but that's almost entirely because they've shifted hardware priorities to AI and inflated their pricing to capitalize on the corporate grift, over everything else because of the bubble and limited competition. Losing that means little actually changes, they just shift hardware sales back to other customers instead of telling everyone elss to go fuck themselves while they send everything to AI companies.
Tollana1234567@lemmy.today · 1 pts · 280d
MS is probably the largest one? google is another?
bigfondue@lemmy.world · 1 pts · 279d
9488fcea02a9@sh.itjust.works · 2 pts · 280d
The actual fabs are making money too. Nvidia doesnt actually make anything
TSMC makes the GPU, micron makes the VRAM.
albbi@piefed.ca · 0 pts · 280d
You're saying the #1 largest company in the world doesn't make any money and that the #9 and #51 placed companies are the ones actually making money?
I'm guessing there must be something they're adding.
9488fcea02a9@sh.itjust.works · 2 pts · 280d
I'm saying nvidia designs the chips. They dont actually manufacture them
Edit: ahh, i see where i did english wrong... i used "make" twice, but in two different meanings.... "make money" vs "make" (produce/manufacture/create)
CmdrShepard49@sh.itjust.works · 3 pts · 280d
It seemed clear to me given the context.
givesomefucks@lemmy.world · 5 pts · 281d
Before AI pops, American AI will.
Which is good, it'll mitigate the damage.
Tollana1234567@lemmy.today · 3 pts · 280d
it seems his palintir AI, isnt what its cracked up to be. i was reading the same thing on a subreddit on r/technology, said his is just more expensive than the rest. thiel has just been shielding his own companies dealings from the public more better than the rest.
Clent@lemmy.dbzer0.com · 3 pts · 280d
Anyone hoping for a bubble is forgetting history. This isn't going to hurt the billionaires and trillionaires. It'll all fall on workers. It always falls on the workers.
Tollana1234567@lemmy.today · 2 pts · 280d
retailers specifically, who bought into it.
Clent@lemmy.dbzer0.com · 3 pts · 280d
I'm not worried about investors. I am worried about this shitty economy tanking. Employment is already fucked and this will increase layoffs.
It does not help that we have a worthless president in charge. The likelihood of a depression is very real.
LavaPlanet@sh.itjust.works · 19 pts · 280d
Wouldn't this be more about the fact he's in the Epstein files, and the depth of corruption involved is about to drop. This is liquidating assets so they can't be seized.
Tollana1234567@lemmy.today · 3 pts · 280d
thiel is definitely in there, and trumps "planned released" of the files is most likely to redact his involvement, which makes it worst.
Thiel cares very much about the news talking about him: see gawker, and his BOY TOY "defenestrated" last year.
PalmTreeIsBestTree@lemmy.world · 16 pts · 281d
I hope ram prices go down when the bubble bursts
ThePantser@sh.itjust.works · 20 pts · 281d
I hope all PC parts crash and we all can cash in on some sweet rigs or upgrades.
neon_nova@lemmy.dbzer0.com · 9 pts · 281d
I imagine if the bubble pops, then loads of people will suddenly be out of work. So prices may drop, but money might also be scarce.
frunch@lemmy.world · 10 pts · 281d
So pc part prices are gonna be the lowest they've ever been, but I'm still not gonna be able to afford them?! 🫠
That tracks
cyberpunk007@lemmy.ca · 6 pts · 281d
And graphics card prices.
furzegulo@lemmy.dbzer0.com · 12 pts · 280d
come on, fucking burst already! 🙏🙏🙏
MTK@lemmy.world · 11 pts · 281d
First rule about bubbles popping: If you think it will happen soon, it will not.
rainwall@piefed.social · 9 pts · 281d
Youre wrong until youre not.
MTK@lemmy.world · 1 pts · 280d
Exactly
BagOfHeavyStones@piefed.social · 1 pts · 281d
Depends if it's made of glass or detergent.
sittinonatoilet@sopuli.xyz · 11 pts · 281d
Didn’t a bank dump all their shares recently too?
Edit: https://apnews.com/article/japan-softbank-son-nvidia-ai-chips-d8a10172850628c317a214280a4d94c9
vateso5074@lemmy.world · 8 pts · 281d
Raglesnarf@lemmy.world · 7 pts · 281d
I wonder how close we are to the AI bubble popping. whenever I see these posts about tech companies and STONKS I get really excited
Seleni@lemmy.world · 8 pts · 281d
I don’t. I remember tales my grandparents told me of what their parents went through in the Great Depression. I have 0 interest in experiencing any of those things myself.
Deceptichum@quokk.au · 1 pts · 281d
RupeThereItIs@lemmy.world · 9 pts · 281d
That it didn't coincide with a president starting trade wars with all our closest trading partners for no reason.
heyWhatsay@slrpnk.net · 4 pts · 280d
Why would anyone still have Tesla stock?
CmdrShepard49@sh.itjust.works · 2 pts · 280d
Because youre guaranteed a golden shower when Musk receives his $1 trillion dollar pay package.
hayvan@feddit.nl · 1 pts · 280d
Stocks have been riding on speculative hype rather than actual corporate value for a while now.