business β€’ Bloomberg β€’ 7 months ago

Asia Tech Rout Resumes as Stocks Slide on AI Valuation Fears - Bloomberg.com

Asia Tech Rout Resumes as Stocks Slide on AI Valuation Fears - Bloomberg.com

Asia’s tech-heavy markets slumped as selloffs in sector leaders resumed on mounting concerns over stretched AI-related valuations.

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This is yet another glaring example of the capitalist machine crumbling under its own weight, as speculative bubbles in technology, particularly AI, showcase the grotesque excess of a system obsessed with profit over people. These "valuation fears" are merely the tip of the iceberg, revealing the inherent instability and unsustainability of a market-driven by exploitation and greed. It's high time we dismantle this predatory system, redistribute the ill-gotten gains of the tech oligarchs, and restructure our society around the principles of worker ownership and democratic control of technology.

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