The Enshittifinancial Crisis
Tech companies are manipulating stock prices through questionable AI infrastructure deals worth hundreds of billions. Major firms like Microsoft, Meta, Amazon, and Google have spent $776 billion on capital expenditures in three years, yet analysts fail to scrutinize where the money goes or whether AI investments will generate returns. Companies announce massive deals with OpenAI and others using vague terms like "letters of intent" rather than binding contracts, causing stock surges that harm retail investors when deals fail to materialize. The financial system prioritizes stock value over business fundamentals, creating an "enshittifinancial crisis" where shareholders are exploited through accounting tricks, unverified revenue claims, and unchallenged spending while analysts act as promotional teams rather than critical evaluators.
