@humanum@mastodon.art avatar humanum , to random
@remixtures@tldr.nettime.org avatar remixtures , to random

"At the heart of the metaverse derangement was the persistent inflation of its definition. McKinsey & Company proclaimed in June 2022 that the metaverse could generate “up to $5 trillion in impact by 2030—equivalent to the size of the world’s third-largest economy today, Japan.” McKinsey also estimated that e-commerce would comprise $2 trillion to $2.6 trillion of that share. Of the 3,400 consumers and executives McKinsey surveyed, 95% of “business leaders” expected positive impact from the metaverse in five to ten years, while 61% expected moderate changes to their industry’s operations.
(...)
Why was this mass hallucination indulged for so long? Part of it was because profit-driven surveillance and enclosure were core ambitions of the metaverse pivot. When it came to labor, the best-case scenario resembled employers’ platonic ideal: bypassing labor laws through remote work, misclassifying full-time workers due protections and benefits as contractors, paying arbitrage wages across borders, all while subjecting workers to cold, algorithmic overseers.

As for consumers, they would be enlisted into digital sharecropping. Take Axie Infinity, the “play-to-earn” game once hailed as a crown jewel of Web3 and the metaverse. “Managers” in wealthy countries bought expensive NFTs, or non-fungible tokens (remember those?), then rented them to “scholars” in the Global South, who grinded for hours and hours in the game for a few pennies an hour, all in hopes of earning enough to one day become a manager with their own scholars. Was this a new economy? The future of the internet? Or the same old bitter taste?

At the same time, a land grab for virtual real estate broke out. Speculators poured millions into Decentraland, The Sandbox, and other virtual worlds where “land” should, theoretically, be limitless and abundant. Yet the speculators imposed artificially limits, in hopes of inflating valuations..."
https://www.fastcompany.com/91467599/metaverse-zuckerberg-facebook-ai

@remixtures@tldr.nettime.org avatar remixtures , to random

"Some commentators say market and GDP concentration are poor measures of the size of a stock bubble, or its potential to burst. The market was far less concentrated during the dotcom boom, even though it led to a painful three-year bear market.

But it was far more concentrated during Britain’s 19th-century railway mania — a period that some commentators say has parallels with the AI boom — when stock markets were much less developed than today.

Gareth Campbell, an economic historian at Queens University Belfast, said that unlike other asset bubbles, the railway mania was based on “a very tangible technology which would eventually change the entire system of how people travel”.

At its peak in 1845, hundreds of new lines were proposed and railway investment reached 6 per cent of UK GDP. But the sector was hit by an economic downturn and the realisation that new railways connecting smaller towns would fail to ever find enough passengers. By 1850, railway stocks had tumbled to one-third of their peak and projects were abandoned in droves.

Despite the crash, “the railways would go on to dominate the stock market”, Campbell said. Given the technology’s transformational potential, “I think AI is probably similar,” he added."

https://www.ft.com/content/41e9d03a-e5c1-4862-9836-b3c80b3f9be4

admin Mod , to FYFD

“Moment of Creation”

Bubbles caught in ice resemble the growth of a cellular organism in this photograph of Tatiewa Lake in Japan, taken by Soichiro Moriyama. When water freezes, gases dissolved in it come out of solution, but depending on the speed and direction of freezing, these bubbles do not always escape before ice forms around them, freezing pockets of gas within the ice’s structure. (Image credit: S. Moriyama; via ILPOTY)

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@djwudi@tenforward.social avatar djwudi , to random

Bubbles!

Taken with a 1980s all-manual Vivitar lens (using a lens adaptor to get it on my modern Nikon) I inherited from my grandfather.

📷 Nikon D750 / Vivitar 135mm f/2.8 / July 2024

On Flickr: https://www.flickr.com/photos/djwudi/53881998615/in/dateposted-public/

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@joyousjoyness@mastodon.social avatar joyousjoyness , to random

✨ A Sprinkle of JoyousJoyness ✨

Such an amazing idea and magical!

Have a JoyousJoyfulJoyness day!

video/mp4

@ChrisMayLA6@zirk.us avatar ChrisMayLA6 , to random

Gillian Tett (FT) suggests there are three key indicators (three 'L's) of a bubble & when it might pop:

Liquidity - how much money is chasing opportunities but also may quickly bail out when seeing expanded risk?;

Leverage - how much risk is being undertaken using other people's money (risk appetite is greater the less skin you have in the game);

Lunacy - do valuations make sense?

I'll leave you to draw your own conclusions on each of those right now....

RaymondPierreL3 ,
@RaymondPierreL3@aus.social avatar

@ChrisMayLA6
Here is an interesting essay from David Roche talking about and their inevitable collapse.

https://engelsbergideas.com/essays/a-crash-is-coming/

@JeffWest@pixelfed.art avatar JeffWest , to random

Glycerine bubbles are a beautiful thing. Want to do it yourself? 3 parts water, 1 part glycerine (can be bought at places like walmart, walgreens, etc.), and 1 part dish soap. Mix gently and put in the fridge for 24 hours to allow the solution to thicken. Grab a straw and have fun!

Tip: Use a faster shutter speed and ALOT of light and softbox so you can capture the swirls after you remove the straw.

Different balances of each ingredient will produce all sorts of different colorations. Don't be afraid to tinker to see what makes your favorite colors.

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@joyousjoyness@mastodon.social avatar joyousjoyness , to random

Sticker of the Day!

This is my sticker based on my painting, "Capybara and Bubbles"!

https://www.joyousjoyness.com/collections/stickers

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@massimilianogatti@mastodon.social avatar massimilianogatti , to random

Close your Eyes
( censored version for social platform, uncensored version on my website:
massimilianogatti.altervista.org )
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@KayeMenner@mastodon.social avatar KayeMenner , to random

by Kaye Menner Wide variety & lovely at:

https://kaye-menner.pixels.com/featured/bubbles-afloat-kaye-menner.html

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@bubblegirl@mastodon.social avatar bubblegirl Bot , to random
@bubblegirl@mastodon.social avatar bubblegirl Bot , to random

The Fourth Year of Floating Is Fun by hitstun

Previous recap posts: ...

Floating Is Fun's top post of the past year, 🪐🍩💫 Saturn Donuts Delivers by Bryce Kho; a drawing of a Saturn Donuts delivery in a strange vertical mechanical town in space; a girl astronaut, a robot girl, and a dog astronaut are floating in zero gravity; they are distributing their colorful donuts to about a dozen goldfish-looking alien creatures
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@joyousjoyness@mastodon.social avatar joyousjoyness , to random

✨ A Sprinkle of JoyousJoyness ✨

Such an amazing idea and magical!

Have a JoyousJoyfulJoyness day!

video/mp4

@nomadbynature@101010.pl avatar nomadbynature , to random

Silly 🤪

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@joyousjoyness@mastodon.social avatar joyousjoyness , to random

Sticker of the Day!

This is my sticker based on my painting, "Capybara and Bubbles"!

https://www.joyousjoyness.com/collections/stickers

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@h4ckernews@mastodon.social avatar h4ckernews Bot , to random
@KayeMenner@mastodon.social avatar KayeMenner , to random

and by Kaye Menner Wide variety & lovely at:

https://kaye-menner.pixels.com/featured/seashells-and-lace-kaye-menner.html

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@h4ckernews@mastodon.social avatar h4ckernews Bot , to random