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Tech stocks set to wipe out more than $1 trillion as concerns deepen about the AI boom
(www.nbcnews.com)
this post was submitted on 30 Oct 2026
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It's legit crazy how financially illiterate top executives can sometimes be.
In a company I worked for, they decided to stop using on-prem systems and move them to cloud servers. I made a rough calculation on a coffee break with colleagues that the move increases costs by roughly 10 times. It was unbelievable and all we could do was laugh.
Some 4 months later it was announced that the cloud systems are to be decommissioned due to costs and employees have to find a way to do the same things on their laptops (which will be upgraded if needed). I still cannot wrap my head around it, there must have been some nasty politics or absolute numeral illiteracy going on in the background.
I worked in the title insurance industry around 2005, data entry. So I saw thousands of mortgages being issued every week, and my job was to data enter mortgage details and data enter the research showing clear title of the property.
I was 19 years old and renting a studio apartment and even I was shocked that every. Single. Mortgage had an adjustable rate or balloon rider on it. Reading the terms of those I was thinking how the hell will any of these people make their mortage payments in 4 or 5 years?
When I would talk to people older than me with homes and investments they would get genuinely upset and tell me I couldn't possibly understand, the banks know what they are doing. Ok.
Or kickbacks from the cloud service providers.
Well, some of the C-level executives had shady ties to cloud companies..
I'm currently wearing my entirely-unsurprised-face. Look, I'm never going to be an advocate of the dystopic post-capitalistic hellscape of Cyberpunk, but there's something to be said for a Militech-style severance package.
"I was hoping to reach Anthony Gilchrist on this number," said Faraday tentatively.
"I'd tell you that I regret to inform you that I just executed Mr. Gilchrist in his office for violations of corporate policy five minutes ago," replied Meredith Stout smugly, "but then I'd be lying."
"About executing him?" asked Faraday cautiously.
"About regretting it."