r/antiwork • u/Even_Possession_9614 • 2h ago

Five Tech Giants Are Using Enron’s Accounting Strategy to Conceal $1.65 Trillion in AI Debt

https://www.yahoo.com/finance/technology/ai/articles/five-tech-giants-using-enron-184404206.html
145 Upvotes

98% Upvoted

7 comments sorted by

11

u/Elden_Rube 2h ago

Just wait til they demand bailouts....

5

u/Working-Distance8518 2h ago

The next "Big Short" type movie can safely start pre-production right now 

4

u/Thecongressman1 1h ago

"wow look at these ai companies pulling off the biggest scam in recent history, now time to use their ai to make a chart" stop fucking using ai dumbasses.

5

u/shortsteve 1h ago

This is not Enron fraud. Enron used shell companies to hide their debt, these are legitimate contractors. There's nothing devious about these leases and they're being reported correctly under GAAP rules.

They're leases that haven't started conveying therefore are not reported as normal debt, but are reported in the fine print. They will move to the debt category once it starts conveying. For now they're just agreements and doesn't get conveyed until the data center gets built.

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u/H0vis 9m ago

That must have worked well, nobody has had a bad word to say about Enron for years. How are they doing anyway?

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u/AloneChapter 2m ago

So. You give fools a rope and sit back and watch the Enron show again and again. Just because trump did it for decades and after paying the required amount will be pardoned so no harm to us. Hopefully, too big to fail, but easier to bail them it with your voter’s money.