it doesn't surprise me...
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Sliox
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The guy who predicted the 2008 crisis is not only warning about AI... he's betting nearly ONE BILLION dollars against companies like Palantir and Nvidia. 💣
Michael Burry (the one from "The Big Short") has just accused the tech giants (Meta, Google, Microsoft) of inflating their profits with an accounting trick.
He calls it "one of the most common frauds of the modern era".
What's his theory? They're spending fortunes on AI chips, but lying about depreciation.
They report: That the chips last 5-6 years.
Reality: Burry says they become obsolete in 2-3 years.
By "stretching" that useful life on paper, they would be "hiding" $176 BILLION in expenses.
What's the result? The profits you see from companies like Meta could be inflated by more than 20%. 🤯
Obviously, Wall Street says Burry is "completely wrong". The CEO of Palantir, furious about the bet against him, called the move "complete madness" and "market manipulation".
Burry promised to reveal more details on November 25.
Are we seeing the guy who saw the 2008 crisis do it again?
Michael Burry (the one from "The Big Short") has just accused the tech giants (Meta, Google, Microsoft) of inflating their profits with an accounting trick.
He calls it "one of the most common frauds of the modern era".
What's his theory? They're spending fortunes on AI chips, but lying about depreciation.
They report: That the chips last 5-6 years.
Reality: Burry says they become obsolete in 2-3 years.
By "stretching" that useful life on paper, they would be "hiding" $176 BILLION in expenses.
What's the result? The profits you see from companies like Meta could be inflated by more than 20%. 🤯
Obviously, Wall Street says Burry is "completely wrong". The CEO of Palantir, furious about the bet against him, called the move "complete madness" and "market manipulation".
Burry promised to reveal more details on November 25.
Are we seeing the guy who saw the 2008 crisis do it again?
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