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It didn’t go anywhere, that money was “unrealized”. It’s quite literally just what people think the shares are worth and a dollar amount associated with what people agree to pay for owning it.

Imagine if I own a priceless antique. I can value it myself at $1,000,000,000. That doesn’t make me a billionaire, except maybe on paper or insurance documents perhaps. It also doesn’t mean that people are out there buying billion dollar antiques from me, that’s just what I think it’s worth, although I’d be unlikely to sell it if someone wasn’t going to pay me at least close to what I thought it was worth.

If I get the antique appraised and they tell me that, actually, it’s only worth about $100 fair market value, then $999,999,900 was just wiped out. But the rest of that cash valuation isn’t floating around in the ether somewhere, the true value of the item simply did not match my own valuation, and the antique market shifted to correct for my gross overvaluation.

That’s essentially what happened yesterday.

Same answer as to why the Raiders and the Athletics left Oakland to build new stadiums in Vegas while the Red Sox still play in a stadium that is over a century old.

The team owners, by and large, care more about money than they do about the fans of the team, and flashy new stadiums get butts in seats at premium prices, even if the team itself sucks ass.

Quick, somebody warn Nate!

Honestly, the people hacking the illegal gambling website and the fake money website are modern day Robin Hood figures in my eyes.

Better them than hackers stealing from AARP or GoFundMe or something.

That’s kind of why I like Lemmy better. Rarely do I see reposted content. At one point I had a spreadsheet where I would log how many times I saw the exact same post on TIL or YSK.

Smaller communities are better.

I guess I kind of understand why companies want you to be logged in to engage with their platform, as the user metrics are the main selling point to advertisers, but man do I really fucking hate it when a platform forces me to log in by preventing me from using their website. So much so, that I haven’t made an account on Instagram or X or Facebook or whatever dumb social media platform specifically because I can’t browse without signing up. Well, that, and also the greed, the lack of privacy, the tacit endorsement of fascism, et. cetera.

No, I don’t want to make an account.

No, I don’t want to download your app.

No, I don’t want to turn on notifications.

Gah, fuck off with all this horseshit. The internet used to be fun. Now everything is a chore and nobody does anything unless they feel like they can make a profit off of it.

“Thou shalt not make a machine in the likeness of a human mind.”

One religious exemption, please!

In case anyone was ever curious if AI could be used against our corporate masters, here’s your answer.

I suspect that if the AI industry ever gets any sort of regulation, it will be to wrench any kind of power that end users have that may threaten the capitalistic hegemony away from them. Can’t have people reverse engineering their tech to figure out how they are using it to spy on you, cuz THAT’S CYBER ABUSE! :/