The Week: How Leverage Broke the AI Trade

This episode is brought to you by Google Chrome. You think you know a browser, but Gemini and Chrome? That's new. It can help you with practically anything on the web, like restoring a vintage motorcycle from a 50 page restoration blog, or finally break down that long article you've had open for weeks, Gemini and Chrome is here for it. Ready to make anything online make sense? There's no place like Chrome. Check responses set up required compatibility and availability varies 18 plus. Starting a business can seem like a daunting task, unless you have a partner like Shopify. They have the tools you need to start and grow your business. From designing a website, to marketing, to selling and beyond, Shopify can help with everything you need. There's a reason millions of companies like Mattel, Heinz, and Allbirds continue to trust and use them. With Shopify on your side, turn your big business idea into sign up for your $1 per month trial at shopify.com/ special offer. Athletic Brewing Company crafts award winning non alcoholic beers for those who wanna be part of every round. With over 185 flavor awards, they're exceptional NA beers that fit your lifestyle and any social occasion. Summer's full of good times and athletic fits right in. Go to athleticbrewing.com to have brews delivered to your door or find them at a bar, restaurant, or store near you. Near beer, athletic brewing company fit for all times. Welcome to the week from Prop g Media, where we break down what mattered and what it all means. I'm George Hahn, and it's Friday, August 7. Today, a hedge fund blew up. South Korea's stock market plunged 44%, and the AI trade found its floor. Then, why a generation locked out of financial security is taking bigger risks to get ahead. And finally, Sam Harris on what's actually worth your attention. Let's get into it. Last week, the debt that was propping up the AI boom finally came into view. This week, we found out what it does to people. On Friday's ProfG markets, Scott and Ed sat down with Jim Chanos, the short seller who called Enron and who now teaches a course on the history of financial fraud. The fraud cycle follows the financial cycle with a lag. And the longer the financial cycle goes on, the more amount of fraud is ultimately uncovered on the down cycle. So I've already dubbed this the golden age of fraud, and I suspect that when we're on the down part of this cycle, the bodies will float to the surface as they always do. But remember, the other the the corollary to that is is is the harshest prosecutor and the staunchest defense attorney of a company is its stock price. Nobody nobody goes after frauds at all time highs. They only go after them, after investors have lost money because these kinds of things are political. So why does the boom still look so …