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Amid ‘Shades’ Of Dot-Com Bubble, It’s Time To Switch Out Of Big US Tech, One Bank Says
"Long US Tech" was identified as the most crowded trade in the world for the sixth month in a row (a
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Regulators need to start with Facebook and end with Facebook. Carve it up, chew on it, and spit it out. What is the probability that FB will be around in 20 years anyways?
It”s a company that doesn’t contribute much to making the nation the least bit more productive. (I’m taking about productivity of land, labor, and capital, not one’s personal time wasted looking for high school sweethearts.) Any readers who have been thinking about deleting their FB accounts, go for it. It’s liberating.
As for the rest, they are a competitive advantage for America right now. We need them. I can understand some regulation, but breaking any of them up is probably not in our best interest.
Enough FB hate. When the COVID vaccine is available for everybody later this month (before the election, right?), BIg Tech will naturally decrease in valuation, avoiding a crash, as the euphoria shifts to long VLUE.
Look at ICLN or TAN or PBW vs QQQ for the past year or two.
Clean energy is either a crazier bubble than Tech ever was or on its way to being the new Big Tech.
And by the way climate change is real so factor that in.
More than fourty (sorry for the Canadian spelling but you guys still pretend to call it English) years ago the mountain pine beetle started to spread into Canada due to the lack of sufficiently cold winters. People didn’t understand what was happening. Some still don’t.
Bringing it home: Jeff Orlosky who directed Chasing Ice and Chasing Coral (both award winning climate change documentaries) directed the Social Dilemma because he couldn’t figure out why no one was paying attention to climate change.The Social Dilemma is a simplistic look at some of the extremely sophisticated AI strategies involved in the attention economy where micro targeting of not only advertising but seductive, incremental influencing is for sale to commercial and political entities. FB is the master of this and the threat is unguarded. We have missile defense systems, yet almost nothing to protect us from say, the armies of sophisticated,disruptive and polarizing Russian hackers (whose existence is well documented by the intelligence community). Climate change denial, or more prominently, seeds of doubt about facts, are also promoted by the unscrupulous who benefit from limited regulation.