Post

Torg: Krog, can explain how am Circular Finance bad? Krog: [sighing with the weight of relatively few eons] Pull up rock, this take minute.

Ed Zitron@edzitron.com

A lot of people don't seem to understand how the bad the circular financing situation is, so I've written it out in the style of a caveman so that I can meet AI boosters where they're at. Me am explain circular finance simple for them. www.wheresyoured.at/am-i-meant-to-be-impressed/

57 reposts315 likes

You give me money To keep paying you For the stuff I need To make actual money some day In order to stop paying you With your own money And generate actual profit for both of us Some day (Allegedly)

It isn't a business model. It's the 1990s dot com "sell at a loss make it up in volume" thought process. And like then there will be a last man standing (or two) when the house of cards falls.