Starting to get dot com bubble vibes with AI mania.
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Energy consumption around AI has the utility sector pretty excited.
AI is going to be super disruptive so there will be some large structural changes that are net positives in the long run (productivity gains are theoretically in the air all over the place) and some spectucular and comical failures are inevitable. A bunch of companies will be created just appending “AI” to their names (PetsdotAI?), they will attract and incinerate vast amounts of capital, and then poof.
Certainly some people will get dragged into day trading on names and get obliterated by this. Lots of other people will also just buy and hold the index and do fine.
If you are looking for a non-AI stock that absolutely crushes, check out Cintas. Yes, that Cintas. I just saw it the other day and my mouth dropped.
+43% over the last year, +200% over the last 5 years. +55,833.93% all-time.
These are amazing returns, how do I buy the shared 55000% ago?
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Personally, I have observed at least two working methods but I haven’t tried them myself.
- Remove the webbing from an umbrella and install it onto the top of a phone booth (yes, it might be hard to find one of those these days). After installed, you should see the * and # alternate lighting up. Then you can dial in the month number / day number / year number into the phone’s keypad and press both the * and # at the same time. This should whisk you off to your desired time.
- This will require more mechanical and scientific competencies. First we need to find a suitable vessel to travel in: I recommend a car or truck (note: it must be able to drive at least 90mph). This will require a custom fitted dashboard that includes some functionality to punch in a date and also have a big date clock. Next, we need to create a tiny little nuclear reactor. This may or may not require you to make some promises to Libyan terrorists to obtain certain restricted items. With all this constructed, start up the car and find a long straight road to launch from. Press your desired date into the dashboard and hit the gas pedal! Once you hit about 88mph the flux capacitor will initiate the time travel.
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Really feels like AI is being hyped way beyond what it can deliver, everyone is tired of AI slop ruining the internet.
OTOH, it’s quickly getting to the point where AI is legit going to make a lot of people unemployed, and that’s always great for profits.
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My firm has an internal Gen AI and is bombarding us with messages encouraging us to use it. It’s legitimately helpful. The problem is that the tasks it’s helpful with are tasks we used to give to junior staff (write an outline of this paper, do research on agency xyz, etc). I’m very concerned about what it might mean for the future generation’s entry level job opportunities.
I’m very concerned that any decent white collar job track will end up like the current version of Hollywood Agency Mailrooms or Congressional Staffing where it’s like 92% straight up Nepotism and 8% non-Nepotism people from Harvard
Going to be some great comeuppance from the “learn to weld” folks who got dragged by the “learn to code” folks.
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STONKS
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it seems like the company selling the shovels (NVDA) is the only one who has actually found a tangible way to profit from AI, and then the rest of the market is going up because theoretically they should see higher profits from AI one or two or five years down the line but no one actually knows how these profits are going to come about.
I think boring companies have a good idea. I work at an old, profitable Canadian financial institution. Nothing exciting. But I have seen our internal reports on the expected % increase in productivity for all of our different departments, all based on real research. Whether that converts to more productivitiy per person or allows us to cut workforce without reducing productivity, our finance folks have a decent idea of how our financials will improve if AI generates the results we expect.
The real speculative side of it is what new ventures will actually now be possible because of AI. We can see that AI can do some stuff - make almost photorealistic videos from prompts, for example - and no one has any idea how that is going to manifest into a profitable venture. But the old world of Fortune 500 companies have more direct effeciency applications that will generate more obvious profits.
Holy fuck. What a fucking swong.
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SMCI is even more insane to me. All the WSB morons who were set to lose 100% on their calls got bailed out.
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Lol I bought NVDA back when it was like $15
And sold it at $35
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Fidelity Contra fund went up 3% today (or that could be from yesterday). Probably all NVDA.
It was a pretty good day for everyone except utilities. Who knows. Learn to AI ya stupid power companies!
I’m expecting another good day tomorrow. People like to end the week on a good note.
Should have been like me. I mostly forgot I owned it for a long time. That’s the secret sauce.
Sounds right, I bought Amazon for $8 back in 2002-2003 (basically perfectly timed the bottom after dot com bust) and then sold it for $16 thinking I was a genius
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