Placing an 800lb neodymium magnet near electronics like cell phones or TVs can cause significant damage, including data loss, screen distortion, and potential hardware failure. The strong magnetic field can disrupt the functioning of sensitive components and erase stored data. Users express concern about the risks associated with such powerful magnets in living spaces. The discussion highlights the importance of keeping strong magnets away from electronic devices to prevent costly damage. Overall, caution is advised when using large neodymium magnets near electronics.