
Even people from big companies are running away, and I'm still holding on here.
Google DeepMind lost two big shots in a row these past few days—first, Noam Shazeer, one of the authors of the Transformer paper and co-lead of Gemini, announced he was leaving for OpenAI; then John Jumper, the lead of AlphaFold and a Nobel laureate in Chemistry, also announced he's jumping ship to Anthropic. Combined, these two are basically the two biggest names in the AI field in recent years, leaving just like that, without giving the market any time to hesitate.
The result: On Monday, June 22nd, Alphabet's stock price directly dropped over 5%, wiping out about $220 billion in market cap in a single day, the worst day in nearly a year. When I was holding my position watching that green line plummet, the feeling was similar to watching a patch of my carefully nurtured succulents suddenly wither—you wonder if the roots are rotten, but they don't seem to be, yet that bit of certainty in your heart has indeed been chopped off.
The most ironic part is, the company's fundamentals haven't collapsed at all, but the stock price collapsed first to show you. This is probably the most frustrating part of stock trading: you're not just betting on financial reports, but also on the "people" hidden within the company. When those people leave, the story wobbles a bit. Even if you say, "I know this is an emotional sell-off," the positions in your hand still panic for you first... 😅😅😅😅😅😅
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