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Comment by CamperBob2 | Hacker News Reader

You could have made a lot of money betting against Ed Zitron over the past few years. He has predicted 12 of the last 0 AI market crashes.

Of course past performance is no guarantee of future results, as they say.

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tbf he only needs to be right once, and at the moment the question of profitability of these frontier companies is still open

I think it's only a matter of time, like the build-up to the financial crash in 2008 or the dot-com bubble. There's currently a huge amount of money being bet on the big AI tech companies without any real sense of return. And the companies like Oracle that are funding data centre build-out are sitting on unused GPU stock.

Recently, the Australian AI firm failed to secure an IPO [1], [2].

OpenAI is looking to go for an IPO despite shaky revenue [3], [4], [5], resulting in a stock drop for companies like Oracle invested in OpenAI [6].

Anthropic is in a similar situation: looking to IPO despite shaky finances [7], [8], [9].

The companies involved are all investing in each other and trading money between them leading to circular investment [10].

[1] https://www.wsj.com/finance/firmus-ipo-ai-trade-f490c240

[2] https://www.abc.net.au/news/2026-10-10/how-firmus-the-bigges...

[3] https://techcrunch.com/2026/10/08/openais-revenue-is-reporte...

[4] https://www.inc.com/chris-morris/what-openais-leaked-financi...

[5] https://futurism.com/future-society/ai-financial-bubble-open...

[6] https://www.cnbc.com/2026/10/08/open-ai-revenue-nvidia-oracl...

[7] https://www.investors.com/news/technology/anthropic-ipo-fili...

[8] https://www.newconstructs.com/wp-content/uploads/2026/10/Ant...

[9] https://www.tradingkey.com/analysis/stocks/us-stocks/2622154...

[10] https://graceblakeley.substack.com/p/the-ai-circular-economy

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