World: DeepSeek, which rivals platforms like ChatGPT, introduced its latest version in January. According to Bessent, it triggered the downturn in the share prices of leading US tech firms, often referred to as the “Magnificent 7.”
Yeah it may really be that simple. I keep swinging back and forth between “they’re all just really dumb” to “they’re reckless and there are some threads of cohesion to their actions” and it doesn’t seem to resolve much, so I guess I should default to them being idiots.
I just feel like at least a couple of them like Bessent and Lutnik, being Wall Street people, must understand at least the basics and so therefore there’s some cynical plan here as opposed to them thinking any of this is a valid economic strategy. But that cynical plan could be as simple as insider trading, which would be nothing new I guess.
they learned long ago that they don’t have to
the average american reads at the level of a 12 year old and has the critical thinking skills to match
Yeah it may really be that simple. I keep swinging back and forth between “they’re all just really dumb” to “they’re reckless and there are some threads of cohesion to their actions” and it doesn’t seem to resolve much, so I guess I should default to them being idiots.
I just feel like at least a couple of them like Bessent and Lutnik, being Wall Street people, must understand at least the basics and so therefore there’s some cynical plan here as opposed to them thinking any of this is a valid economic strategy. But that cynical plan could be as simple as insider trading, which would be nothing new I guess.