Michael Burry, who shorted the housing market in 2008, has bet over $1 billion that the shares of AI companies Nvidia and Palantir will fall.
  • chunes@lemmy.worldEnglish
    572·
    4 hours ago

    Some guy spending a billion dollars on pretty much nothing makes me deeply annoyed. Tax billionaires.

    • Echo Dot@feddit.ukEnglish
      8·
      51 minutes ago

      He famously isn’t rich. He manages the money of the rich, he himself is only well off. This isn’t his money he’s investing, it’s the money of the people he works for. So there’s obviously some market feeling that this is a good bet.

    • cley_faye@lemmy.worldEnglish
      6·
      3 hours ago

      You must be annoyed A LOT these days. It seems that spending a lot of money on nothing is the latest trend for these people.

      • dan1101@lemmy.worldEnglish
        8·
        2 hours ago

        But spending it on their own terms. They would spend $100,000 on lawyers and lobbying to avoid paying $20,000 of new taxes.