Posted on 04/08/2018 11:08:09 AM PDT by SeekAndFind
The US tech sector does a great job of exchanging photos and recipes and family photos, but it doesn’t do much for overall productivity, which is stagnant as investment goes into apps rather than plant and equipment.
This is how it always happens. Late Tuesday an obscure short-seller, Citron Research, announced that Twitter was the social media platform most vulnerable to privacy regulation – and its stock plunged 12% in the course of the day. All the other tech names followed, including the whole of the FANG+ Index (Facebook, Amazon, Netflix, and Google, along with a half-dozen other big names, including Alibaba). FANG+ lost 6% on the day, and MSCI’s non-Japan Asia stock index fell 1.4% overnight.
There wasn’t any news. Citron isn’t much of a market mover. Far bigger voices had offered direr forecasts in recent days, including Citibank’s equity research team with a missive headlined ‘Down the Rabbit Hole’ that warned of a 20% correction in the S&P 500. Stocks had recovered on Monday after the Trump team took to screens to assure the world that they sought a negotiated deal with China rather than a trade war. But in the end, what mattered was not Trump’s tariff shock but the simple realization that tech monopolies don’t last forever, and when they fade, they fade fast.
(Excerpt) Read more at atimes.com ...
I e always asked how companies with no real product or assets can be so highly valued
Apple and Microsoft make real products
Google twitter fakebook etc. nothing Just infotainment
Same can be said for bitcoin and other cryptos
Yes a lot of money is numbers on computers now but what backs it up
Csn i go a bank and get a roll of bitcoins ?
In the old world there where snake oil salesmen and hustlers of all kinds that had to relie merely on their cunning and sales strength
Now it is impersonal and not real
I for one don’t participate. Except here of course !
Entertainment's a big money maker... Ever pay to go to a concert? Or see a movie?
Good, may they all fail.
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