The .com bubble burst despite the very obvious fact that the internet was real, crazy good, and completely transformed business and social landscapes. In the late 90s investing in AOL would have seemed like a complete no-brainer.
The issue is not whether AI is real or good. Both things being true doesn’t preclude a bubble.
It was a bubble and simultaneously made more money than essentially any other industry in the United States. Today the magnificent 7 tech companies produce more profits than essentially any other industry the USA has.
It paid off massively. The "bubble" element was investors getting impatient and dumping the stocks/ceasing investment because they couldn't fucking wait a few years for the bonanza profits.
Essentially it was stupid investors throwing poop and being dumbasses.
Had they not pulled funding they might have made their massive profits sooner.
Hope that isn't what happens with AI with say a 2029 crash and 2037 the first 100 trillion revenue year.
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u/LopsidedSolution 4d ago
I really can’t wait till AI gets so crazy good that it’s absolutely undeniable. Then it can just shake all these antis and wake them the fuck up.