Just wrong. It’s a superficial comparison at best. Enron was cooking books using entities they controlled but making it look like they did not.

You could make an argument that maybe this is similar to oracle (I think?) in the com bubble financing networking gear to customers.

I still think that misses the mark since the customers using hardware are have demand for computer by their customers.

And people were really buying electricity too.

The WSJ recently reported that there’s around 3 trillion in off balance sheet liabilities floating around in AI. It’s very unclear where the $3 trillion to pay those bills will come from.

Nobody is saying it’s “illegal” but it was news in the WSJ as the companies using creative accounting aren’t exactly going out of their way to make sure everyone knows that this $3 trillion in liabilities exists.

Boots. You could cook boots but they still won't be edible.