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It seems like we’re screwed either way. Path A: AI works out and you have mass unemployment of high income white collar employees, the economy crashes. Path B: AI doesn’t work out and you have these massive valuations collapse, the economy crashes. I don’t see a golden path here.

Hey Ed is that good or no

As I've written extensively in the past, the AI bubble is nothing like the dot com bubble. The scale and concentration is different, and a simple 20% correction across the main AI stocks would be worse than the worst day of the Dot Com crash. www.wheresyoured.at/ai-had-bette...

I am far from having a good understanding of economics, but I could of sworn there was a lesson in high school about not putting all your eggs in one basket.

Following you on Slok.

He just admit it!

>when capitalists do capitalism >”this is just like when communism!”

Other exposures like private asset managers and banks are going to be the ones to watch out for. I suspect these firms have a lot more riding on the profitability of these players than some understand.

Everybody just assumed it would work. It's like if the whole tech industry had bought into the absurdity that was VR and followed meta in flushing tens of billions down the toilet.

Unhappy to say not quite as bad as it sounds

Stock-market-to-GDP ratio was ~1.5 during the height of the .com bubble. It currently stands at about 2.35.. Not great.

And arguably you can't in good faith exclude the "D" when it comes to GPUs with useful lives of less than 3 years...

I don’t even know what their bias is anymore, but every single newspaper now is like them: “innocently” curating stories to form a very heavy-handed editorial narrative, but now that every publication is now doing that..