$2.5T has been wiped from US stocks
U.S. stocks have lost $2.5 trillion in market value. The available content gives no details about when it happened or what caused the decline. (reddit.com)
Texas just went blue, and the tech bros are sad
businessinsider.com3 points0 comments
Texas voters delivered a major political reversal, giving Democrats control of both chambers of the state legislature and electing Gina Hinojosa governor and James Talarico to the US Senate. The results mark the first Democratic statewide victory in Texas since Ann Richards won the governorship in 1990, and the first Democratic win in a Texas Senate race since 1988. The outcome came despite substantial Republican spending backed by Elon Musk, and challenges the state’s image as a reliably conservative refuge for technology executives fleeing California’s liberal politics.
Some prominent tech figures responded with alarm, tying the shift to the future of artificial intelligence and its energy-hungry infrastructure. Musk joked that data centers in space now looked attractive, while investor Jason Calacanis complained that he had moved to Texas to escape progressive politics. Chamath Palihapitiya argued that political pressure on West Texas power could threaten data-center development and, in turn, the AI boom; AI healthcare executive Alex Cohen declared the technology’s prospects doomed. Other technology leaders welcomed the results: Democratic donor Reid Hoffman described the broader midterm gains as a wave against President Trump and his allies. The reactions illustrate how the election has unsettled tech leaders who regarded Texas’s political climate, energy supply, and permissive business environment as advantages for expanding AI infrastructure.
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