he's gonna run it aground at full speed

Please move fast and break the thing

As someone with plans to work in the software dev sector, it's just bad news no matter what. AI turns out to be magic, no jobs. Industry crashes because of the bubble, no jobs.

Yep he didn’t build Instagram, WhatsApp, or even the Facebook ad engine, which is arguably Meta’s actual product.

I am pretty sure he still holds a majority of shares. He is clinging to that for dear life

False. Datacenters don't need to eat.

Mario theme intensifies

Didn't he spend a billion dollars on pixelated legs?

On to the next idea that is clearly a failure at inception to everyone but Zuckerfuck and his circle of sycophants

Oh yeah, I'm sure they'll out him any day now...

This article, like many Futurism articles, is conditioning. It's wild Futurism gets glazed so much on tech lemmy.

As the Wall Street Journal phrased it...

fkn lol.

These articles do not deserve the attention lemmy gives them, and should be downvoted and called out as such.

So wait. What is the story with coreweave. You mentioned labs desperate for gpu, and there very much is a shortage. Coreweave rents that. So they should be making miney handover fist.

Oh yeah, I’m sure they’ll out him any day now…

Facebook is structured in such a way that Mark Zuckerberg can never get fired. So if they want to terminate his position, they have to do so with extreme prejudice.

That's s good thing

better call him a mindless automaton then,.

Meta does have some very specific issues with their corporate governance in that regard. Mark's contact basically makes him impossible to fire as CEO. It's an unusual situation that should have set off alarm bells for investors years ago.

I was reading an article many years ago about Mark Zuckerberg being obsessed with Machiavellianism and reading sources about it. I'm sure he has thought just about everything to retain power.

They're all like this as well. "Look how smart we are, making lots more money by starting with lots of money getting very lucky".

It would be like a roomful of lottery winners sitting around sipping brandy, and musing about how they're better number pickers than anyone else, and sharing tip on picking out random digits...

I cant what for them to try to argue meta's loss would do any harm to society

A.) Meta's issuing new shares for this, so it's shareholders, not the company, that are going to pay his tax bill.

B.) The deal is issuing non-voting shares so he still holds the majority of shares that matter after this.

META will be bankrupt within 5 years according to the bond & credit markets. META’s Credit Deault Swaps are surging — lol.

The board should consider execution.

I'm good with that.

I do wonder how some of these companies intend to actually make money with it.

Anthropic, fair enough, they've convinced companies to spend huge amount of money making sure that programmers can't remember anything or know what that mass of spaghetti does any more.

And MS, presumably it's all companies spending money on Office 365 Copilot so emails get put in automated holding patterns, and quarterly reports get flashier graphs.

Nvidia, they sell shovels.

But Meta? Their entire business model is scraping data from real people, packaging and selling it to far right politicians and scammers. I'm struggling to figure how AI does anything other than fuck that up.

One can only dream.

End of natural financing availability seems certain to collapse the sector, and a more cannibalistic attitude in finance can reset the industry into more concentrated ownership, while also eliminating rational financing appetite. Aggression by META and SPCX should cutoff hyperscaler circular financing that would assist their ambitions to surpass them, or diminish their other circular investments.

Still, a global zionist supremacist establishment needs to preserve itself with robocops. $30b from UAE, and feeding Musk's electoral spending is "bailout mentality" that most of congress will still want to protect. US military buying Spacex/Meta compute rental is the simplest bailout mechanic. So, rampocalypse hell will continue until morale improves, will have full establishment backing.

Coreweave makes long term revenue deals before building anything, but they charge too little. They are forced to accept whatever price hikes Nvidia tells them to pay, and are running out of cash in next 2 months, with borrowing rates over 15% to get more cash. In last quarter, their average interest rate was over 8%, and even if they used a 10 year depreciation schedule, they would still have lost money.

When hourly GPU rental prices go up, coreweave doesn't make more money. They have tiny spot inventory. It is also a lie that there is gpu shortages, because if there were, there wouldn't be such rapid model releases. NVidia GPUs are only competitive at training, but if there were any genuine scarcity, new models would come out slower so that inference/revenue making could be prioritized.