r/stocks • u/Chrissylumpy21 • 2d ago

Crystal Ball Post Is Black Monday Incoming?

So much fear in the markets and this time really feels different. All the Mag7 stocks are so hit by the tariffs our iPhones will probably cost $5,000 soon and as the world slows, people will use Amazon less, advertise less on FB/IG. No one is buying Tesla anymore. Who needs anymore AI chips, yet AI is decreasing Google searches.

I fear the world is realizing it all this weekend. Or is it just me that sky appears to be falling?

2.0k Upvotes

87% Upvoted

1.1k comments sorted by

View all comments

Show parent comments

47

u/artbystorms 2d ago

Oh man, can you imagine if they sorted out how to tax data like that. Like "oh you went to YouTube, well looks like you streamed 2.4GB this month, so there's an extra tax on your internet bill"

44

u/Comma_Karma 2d ago

This would kill modern commerce. The internet is an enabler, it would be asinine to tax data which means it probably will happen in a year.

33

u/Hot_Falcon8471 2d ago

They basically did this in the 90s by charging people per minute for internet and phone calls

11

u/Comma_Karma 2d ago

Yes, and the 90s had less growth compared to today because of rent-seeking on data.

25

u/Moist-Ad2137 2d ago

You don’t have to imagine. Many countries used to (and maybe still do) have data caps and you’d pay for each GB you went over on your home internet connection

7

u/spiegro 2d ago

How wild that we are only like 10 years removed from this and it's just long enough so that young people don't even know it existed!

1

u/Punky921 1d ago

This was Australia in 2004.

17

u/PugSilverbane 2d ago

Have you read Ready Player One? This is the premise.

Indentured servitude for Internet use.

11

u/H3rbert_K0rnfeld 2d ago

Black Mirror too

0

u/D-Ray1469 2d ago

Great book, So so movie.

4

u/H3rbert_K0rnfeld 2d ago

I can imagine since I know how many 800 gigabit per sec data links we have. We are a fairly small shop too all things considered.

1

u/shakewellb4uze 2d ago

They can add the tariff tax on advertisers & YouTube premium.

1

u/intelhb 2d ago

There’s no technical challenge in doing so

1

u/Big_Poppa_T 2d ago

Taxing the ad revenue seems like the most logical approach. General approach to tariffs is to apply them at point of sale which in this case would be when the advertiser pays the host

1

u/Folderpirate 2d ago

Text messages used to cost 10 cents each.

1

u/snow80130 1d ago

Sort of is. I’m paying $15 a month to use comcast modem/router to avoid a data cap(2 teenagers)

1

u/geardownson 1d ago

Woman gets on the Tikky Tok to raise hell..

"Muh momma's social security just got axed and my food stamps just got cut! These darn liberals are tearing our country apart!"

Gets prompt to upload Tikky Tok video please deposit 9.99 for upload fee