Tech giants like Tesla, Uber, or Spotify are making less and less profit at the moment and experts are worried about their impact on the world. Are we seeing a new economic bubble in the making? RT’s Daniel Bushel finds out.
American tech corporations are often making headlines nationwide and internationally, although their own performance is far from perfect. They lose more and earn less, and experts warn of a potential “bubble” looming in the horizon.
Tesla, Elon Musk’s flagship company, is worth more than Ford or GM, but produces only a small number of cars. Spotify, a music streaming service, as well as Uber, are losing billions of dollars every year.
“Definitely, there’s a bubble, not just in tech stocks but in general stock market itself,” Jack Rasmus, professor of political economy at St. Mary’s College, told RT, warning that “there are signs of financial fragility” that endanger the world.