alt Hacker NewsMeta's accounting games are entirely reminiscent of Enron, who famously named their off-balance sheet debt-hiding special purpose vehicles after Star Wars "Jedi 1, Jedi 2," Jurassic Park, "Raptors 1 through 7," and the crooked CFO's kids "LJM" etc.
Meta's accounting games are entirely reminiscent of Enron, who famously named their off-balance sheet debt-hiding special purpose vehicles after Star Wars "Jedi 1, Jedi 2," Jurassic Park, "Raptors 1 through 7," and the crooked CFO's kids "LJM" etc.
AI companies are running the same frauds as multiple, but I think cryptocurrency/FTX is more apt. They're creating artificial demand by trading contract with themselves and using those assets to make it look like they've got more revenues & assets of value.