In the mortgage collapse that drove the world economy to the brink, the ratings agencies were rating dogshit in catshit as AAA, they certainly didn't give it something more appropriate like BBB-. There was a good scene where Burry (played by Carrell) went to fitch and asked them why they hadn't changed the rating on the MBS(shit sandwich) when the underlying mortgages were worth zero. The Fitch person said they didn't feel the need to. They were of course being paid--and still are--by the companies they rate.

It's there in the S&P 500 between MSFT and PLTR on the left kind of in the middle (size of the box is the market cap of the company). It's in practically every 401(k) in the US. BBB is somewhere in the middle of the jenga tower.

I hope Larry Ellison feels it, but he probably won't.

How would we know?

Something something the Dow of Poo.

they are hiring more, so they can reach their layoff targets

for the paramount-cw MERGER, it likely will be more if goes through. right now the blue states are suing to stopt he merger.

Oracle does layoffs regularly. Theres always another one coming.

No they let you opt out of sharing data with the hundreds 3rd parties they share your data with......by clicking reject next to each of their names on another page...

It probably is legal and if you follow the money I'm willing to be there is some lobbying form who argued to get a provision like this snuck into GDPR during some backroom deal.

Took me longer to do that than to read the article.

Never has it been so clear to me that I was the product.

Edit: IANAL, it seems to be legal under the GDPR because they offer an option to pay for the content. Idk about the preselected form to turn off individual advertising cookies, that still seems like it would still be an illegal dark pattern under the GDPR.

Big budget bust.

I bet the first response was AI

No one, they'll just have the government bail them out. They'll call their collapse a national security risk, threaten to sell their share of US Tiktok back to Bytedance, claim that they won't be able to protect the sensitive medical data of millions of Americans, etc. Whatever it takes to convince Trump that they're too big to fail.

Ellison is in the AIPAC club. He can have whatever he wants in the US.

They're also juicing their numbers. They've got obsolete GPUs on the books for years after they're irrelevant.

I blame low interest rates.

Speculating on someone who themselves are speculating that their customer's speculation will be fruitful is exactly what low interest rates encourage. Everyone likes the extra activity that produces on the macros, but it just makes the market less accurate.

Interest rates basically set how permissive the market is with its todo list. The problem is when you let yourself do anything, and then also let yourself get distracted doing something that might help something that you maybe shuldn't be doing anyway. This is not a functional life. It's a busy life, but not functional.

If you want to kill AI, raise the interest rates. It will cause a recession, which sucks. But frankly, humanity will survive a recession and it will be temporary. A higher interest rate market solves real problems that benefit actual people within a near horizon. What we don't need is people working 14 hour days, slaving to keep their heads above water, working for companies engaged in far-off speculative race for world dominance; we wouldn't want them to succeed at anyway. That's 100% what we're all doing, and it is interest rates that modulate that.

Raising interest rates will kill all of those jobs involved in that, and sadly a few more from the shock. But those people weren't doing anything productive for humanity anyway. It's better to have them lose those jobs and then later redirect their labor towards something productive. In the long term they are digging themselves out of having a job with their current path anyway.

The scorpion and the frog.

Except oracle is more of a venomous toad

Oracle is 50 years old. Most public tech companies aren't even half that mature.