MapQuest stood up to President Donald Trump, and now its app is reaping the rewards.
The “OG of online mapping,” as the company calls itself, announced on Thursday that it would not change the name of Lake Ontario on its maps to Lake America, despite Trump’s executive order directing the U.S. Department of the Interior to update the lake’s name in the U.S. geographic naming service. As a result, MapQuest’s mobile app downloads soared, sending the iOS app to the No. 4 position on the U.S. App Store’s Top Charts for apps (not including games) as of Monday morning on the U.S. east coast.
MapQuest also reached the No. 8 position overall in the U.S. App Store across both apps and games, and it became the No. 1 Navigation app in the United States.
i knew AI was a bubble but i hadn’t heard the other part. what’s happened besides the end of “tokenmaxxing”?
In addition to the other comment about Nvidia’s circular financing, token prices are sliding as competition is increasing, while datacenter construction and operating costs are only going up. Companies are running low on money to the point where even the megacaps like facebook and google are issuing new shares for the first time in over a decade. These are companies which have collectively dumped trillions of dollars into share buybacks and held a trillion in cash on hand by the time AI came around.
Once the venture capital money is spent but the bills still keep coming, one bad earnings report will confirm what everyone is expecting. People will lose faith of the future growth that these valuations are built on, which will crater the stock prices and wipe out at least 20% of the S&P500 at a minimum.
Nvidia feels the need to further escalate the cricular financing, vastly increasing its own exposure when the bubble bursts. That would be incredibly stupid for them to do unless they think they have to do it, to keep the market from imploding on itself. This kind of financial engineering should be illegal, but it isn’t.