this post was submitted on 13 Aug 2023
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Not that you're wrong per-se but the dotcom bubble didn't impact my life at all back in the day. It was on the news and that was it. I think this will be the same. A bunch of investors will lose their investments, maybe some adventurous pension plans will suffer a bit, but on the whole life will go on.
The impact of AI itself will be much further reaching. We better force the companies that do survive to share the wealth otherwise we're in for a tough time. But that won't have anything to do with a bursting investment bubble.
The dotcom bubble was one of the middle dominos on the way to the 2008 collapse, the fed dropped interest rates to near zero and kept them there for years, investor confidence was low, so here come mortgage backed securities.
In addition, the bubble bursting and its aftermath is what allowed the big players in tech (Amazon, Google, Cisco etc) to merge to monopoly, which hasn’t been particularly good
Most Americans didn't even feel the effects of the 2008 collapse. Most recessions aren't noticed by most of the country. These things are blown way out of proportion by news conglomerates that have a vested interest in it.
this has got to be trolling.