No. of Recommendations: 2
There was a recent discussion between Tucker Carlson and Kevin O'Leary about O'Leary's proposed data center in Utah.
We old phartz have seen this hype parade before, 25 years ago.
from the net sifter:
During the telecom crash of the early 2000s, hundreds of telecommunications companies—specifically those building fiber-optic networks—filed for bankruptcy or went under due to massive debt and overcapacity, with some reports citing over 23 major bankruptcies in a single intense wave. The industry accumulated over $1 trillion in debt by 2002
Key facts regarding the fiber optic bankruptcies:
Massive Overcapacity: Fiber companies laid over 80 million miles of fiber optic cable, but by 2001, only 5% of that capacity was in use.
Total Market Crash: Telecom companies lost over $2 trillion in market value, with the NASDAQ telecom index plummeting 92% from its high in March 2000.
Major Bankruptcies: Companies that filed for bankruptcy included Global Crossing ($25 billion collapse), 360networks, WorldCom ($107 billion, the largest in US history at the time), KPNQwest, Metromedia Fiber Network, and Williams Communications.
The Cause: Speculative investment in the late 1990s led to a belief that Internet traffic would double every 100 days, which failed to materialize, leaving companies unable to service their debt.The collapse of the EV hype parade, in the US, is going on right now. Here's the latest entry:
Honda reports first loss in decades as it slows EV strategy
The Japanese carmaker pursued an aggressive switch towards electric vehicles that it's now trying to walk back. Despite posting its first loss since 1957, its share price spiked on more buoyant predictions for 2026. https://www.dw.com/en/honda-reports-first-loss-sin...Tucker makes a capitalist argument, against data center developers shopping for the fattest government handouts, and a Luddite argument about putting many thousands, or millions, out of work. O'Leary made the boogyman argument, words to the effect "do you want the US to take a back seat to China?", and says new jobs will appear, just trust him on that. The discussion with O'Leary starts around the 56 minute mark, runs for about an hour.
DEBATE: Tucker vs Kevin O’Leary on the Dystopian AI Future Devouring American Energy and Jobshttps://www.youtube.com/watch?v=xTAJnJUos3gMeanwhile, there was a thread on the the Fool METaR today, discussing who will be the bag holder, when the projects start defaulting, like the "internet superhighway" companies did, 25 years ago.
Steve
