I think I’ve written this before, but I feel like doing it again.
The sudden switch from free money to tight money, Share Value to profit, QE to QT, must have been a genuine Shannon event. Fully unexpected, not telegraphed or predictable in advance. It caught lots of corporations and Experts and Influencers off guard, despite their armies of advisors and actuaries and analysts. They’re still running in the same direction with no support, like Wile E. Coyote.
Zuck is the most dramatic example. His idiotic Metaverse was solely meant to soak up free venture capitalist money. When the music stopped he felt the need to Show His Work, and his work was agonizingly stupid.
Thousands of fake NFT and DAO and altcoin projects in the bitcoin arena are still starting up and running and looking for funds. Nobody is taking the bait.
Trump seems to have been caught in the same leftover tide with his bizarre Superman NFT offer. A top businessman or a top gangster needs advisors who can stop him from looking grotesquely stupid. Trump made the mistake of firing all his smart courtiers, leaving only the most abject slaves clustered at his feet.