Jessica Lessin argues Google's 6% stock drop after researchers left for OpenAI and Anthropic represents a market overreaction

It is interesting to me that major tech companies' stocks still rise and fall off AI talent coming or going.

I think that really misses the bigger picture of what the future of Google (for example today) is in the AI era.

Not to say it is a good sign when top talent leaves but it is one of like 10 threads in their AI future and I think investors way overreact.

@tunguz Overreaction. Google has so many cards to play and for so long.

@tunguz massive overreaction imo

@tunguz in this case it may actually be the reason for the stock drop. conrencing

@tunguz Schrödinger's RSI

@tunguz overreaction, always a good idea to buy more when you can

@tunguz It's silly

@tunguz Assuming that is the reason, it’s an overreaction.

Google is down 6% for more than that.

@tunguz nothing ever changes

@tunguz They also didn't release Gemini 3.5 Pro, and are buying compute from SpaceX, probably accurate moves IMHO.

People put too much stock into Google's TPU+CPU stack.

@tunguz Yes

@tunguz In isolation, not appropriate. In combination, it seems like there's a silent vote of no confidence. In context, Google lit the torch and immediately fumbled it.

@tunguz These guys are just money chasing. Nothing more. Same tech, same product being built. They are just chasing $$$$$.

@Jessicalessin But looking back, the researchers and engineers were the ones that could have predicted the rise of Nvidia back in 2020/2022, not the business people.

@Jessicalessin Google is not only AI and investors need a reason for profit booking.

@tunguz So, 18 researchers and Googles' gone... Is that right?

@tunguz Way to make money either way!! And it depends entirely on 3.5 Pro, if it is good to brin̈g more revenues, narrative flips!

@tunguz Overreaction