171–180 of 232 posts
HN commenters flustered, baffled by the words on the screen: “Why would he say it like that? The phrasing is so foreign, it’s like the author wants me to laugh at it. The only way to understand this is to ask a chat bot what I should think the point is”
It would be deeply ironic if this data center (or similar ones using creative accounting), are among those featured in the TV commercials Meta has been running in expensive national prime time slots in recent weeks. I've seen at least two different commercials each focused entirely on the personal story of a relatable, folksy person living in a small town in a fly-over U.S. state, talking about how the town was decli…
I was sure you were exaggerating. But no! https://www.youtube.com/watch?v=xCVkA1xebrQ It turns out the one in this ad is in Altoona, Iowa. The ad focuses on how it revitalized the community by providing jobs, kind of glossing over how that might be reflected in the massive facility's ~30 car parking lot. And incidentally, that data center currently shows no open positions on Meta's career website, although third-part…
Lots of construction workers in the areas where they're putting up new buildings, though.
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I can't for the life of me figure out who would fund this, other than Saudi oil money or Russian petro-oligarchs, both so they can whitewash or launder their cash. This just makes no sense to me otherwise.
If I understand the explanations on HN, the complaint is that Meta is taking on debt, which would normally affect its credit rating, so they're "hiding" the debt in a LLC without materially changing anything. Thus, alleging that Meta is "faking" a higher credit rating than it should have.
However, it looks like this construct might actually protect Meta against the main two risks that might make the datacenter be unprofitable (force majeure like a disaster destroying it, or a collapse of datacenter demand), i.e. keeping the good credit rating may be justified because the construct is actually very different, protecting Meta from risk, even though the article suggests that it's just a fig leaf?
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Is Meta actually obligated to repay the loans or not? That’s how you can decide if this is disingenuous or not. If Meta is obligated to repay the loan and used to synthetic means to get it off the balance sheet that’s a problem. If they have in fact successfully transferred risk to other parties then that’s what deals like this are for. It’s the whole reason the concept of limited liability exists. I am fully willing…
If those have been offloaded to the LLC, wouldn't that be a pretty key difference?
It would be deeply ironic if this data center (or similar ones using creative accounting), are among those featured in the TV commercials Meta has been running in expensive national prime time slots in recent weeks. I've seen at least two different commercials each focused entirely on the personal story of a relatable, folksy person living in a small town in a fly-over U.S. state, talking about how the town was decli…
I was sure you were exaggerating. But no! https://www.youtube.com/watch?v=xCVkA1xebrQ It turns out the one in this ad is in Altoona, Iowa. The ad focuses on how it revitalized the community by providing jobs, kind of glossing over how that might be reflected in the massive facility's ~30 car parking lot. And incidentally, that data center currently shows no open positions on Meta's career website, although third-part…
Also given the 24/7/365 nature of data center operation, the number of employees will be larger than the number of parking spots.
Earlier quoted context omitted.
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.
I assume you have no proof of this, correct?
HN commenters flustered, baffled by the words on the screen: “Why would he say it like that? The phrasing is so foreign, it’s like the author wants me to laugh at it. The only way to understand this is to ask a chat bot what I should think the point is”
This is the lamest place to do ragebait. Facebook is probably more fun.