Let’s say I make a thing. Let’s say somebody offers to buy it from me for $10. I sell it to them, and then let’s say somebody else makes a better thing, and now no one will pay more than $2 for my thing. If my thing is a publicly traded corporation, then that just “wiped off” $8 from the stock market. The person I sold it to “lost” $8. Corporations that make AI and the hardware to run it just “lost” a lot of value.
Let’s say I make a thing. Let’s say somebody offers to buy it from me for $10. I sell it to them, and then let’s say somebody else makes a better thing, and now no one will pay more than $2 for my thing. If my thing is a publicly traded corporation, then that just “wiped off” $8 from the stock market. The person I sold it to “lost” $8. Corporations that make AI and the hardware to run it just “lost” a lot of value.
Makes sense thanks.