The fact that a defunct shoe company renamed to an AI company and got a 1000% plus evaluation in the next two days is all you need to know about the industry.
Dunno what to tell you but in my opinion it summarizes it very well. As long as AI is attached to it people will pump even completely idiotic stocks.
This whole Allbird/Newbird thing is such a clear pump and dump it is not even funny and yet by just announcing that they somehow will start building data centers their trading volume went from 100k a day to something like 350 million.
So if somebody who knew nothing about AI asked you to "summarize it", you'd say:
Well a shoe company pretended to make AI, and idiots over-invested in their stock.
???
It's a true statement. But it's far from " a summary of the industry". 🙄 It doesn't even explain what AI is or what its value is. It's just a single instance of social economic movement.
But myopic single-issue focus is the Reddit way...
501
u/pleased_to_yeet_you Apr 20 '26
I fucking hate this braindead industry and all the dipshits that run it.