Michael Burry says neither SpaceX nor Anthropic is worth $1T

Post by mgh2 » Tue, Jun 02, 2026, 1:15 PM UTC

WinstonSmith84 wrote: post #66

pu_pe wrote: post #11

The stock market doesn't operate on long-term principles anymore. So, in some sense, it is immaterial that the rosy scenarios where AI is responsible for >$30 trillion in the next decade are unlikely. If you bet against the hype and it goes on for a few more months/years you lose as much or more than if you went along for the ride. Burry is well aware of this, he has written about how passive investing is contributin…

> If you bet against the hype and it goes on for a few more months/years you lose as much or more than if you went along for the ride. > Burry is well aware of this ... Well, no he isn't well aware of this, apparently. He's been right in 2008 but he has been spectacularly wrong for the last 5 to 10 years, like shorting Tesla or Nvidia at the worst possible moments - and eventually closing his hedge fund...

Post by heisgone » Tue, Jun 02, 2026, 1:17 PM UTC

WinstonSmith84 wrote: post #66

pu_pe wrote: post #11

The stock market doesn't operate on long-term principles anymore. So, in some sense, it is immaterial that the rosy scenarios where AI is responsible for >$30 trillion in the next decade are unlikely. If you bet against the hype and it goes on for a few more months/years you lose as much or more than if you went along for the ride. Burry is well aware of this, he has written about how passive investing is contributin…

> If you bet against the hype and it goes on for a few more months/years you lose as much or more than if you went along for the ride. > Burry is well aware of this ... Well, no he isn't well aware of this, apparently. He's been right in 2008 but he has been spectacularly wrong for the last 5 to 10 years, like shorting Tesla or Nvidia at the worst possible moments - and eventually closing his hedge fund...

Post by dgellow » Tue, Jun 02, 2026, 1:20 PM UTC

turtlesdown11 wrote: post #79

helsinkiandrew wrote: post #18

Earlier quoted context omitted.

He's been wrong a few times, but has been right far more than ONCE and appears to be profitably making decisions. For example: Short dot.com stocks (55% return), short subprime mortgages (Massive return), long Gamestop 2019, short ARKK 2021, The shorts on Palantir and NVDA are probably still running (PLTR 25% in profit, NVDA 20% loss).

> long Gamestop 2019 So he really relies on zero fundamental analysis these days

Post by batperson » Tue, Jun 02, 2026, 1:30 PM UTC

vfalbor wrote: post #100

This is a very interesting comment. Companies like OpenAI or ChatGPT sell hardware hidden in tokens, and the token is different for each company depending on the tokenizer. The concern is this: when you have an Opus 4.7, Sonnet, or GPT 5X with an Nvidia H100 or H200 GPU, what will happen to this cost when, if not Nvidia, another Chinese company enters the market and starts running these models? The point here is that…

Post by pjmlp » Tue, Jun 02, 2026, 1:38 PM UTC

simianwords wrote: post #98

pjmlp wrote: post #96

Earlier quoted context omitted.

Unless the investment was into worthless paper from those companies, tied to pension funds and similar.

The strategy should be to put money into AI broadly and not necessarily tie to a certain company -- something pension companies already know. So evidence that internet was a bubble is wrong, it in fact shows that pensions did the right thing by putting money in the internet.