Anyone who lived through the internet boom and bust of the late 1990s and early 2000s should find the current AI investment cycle worryingly familiar.
Anyone who lived through the internet boom and bust of the late 1990s and early 2000s should find the current AI investment cycle worryingly familiar. Heavy reliance on debt means that if investors decide to stop lending into the boom, a financial crisis will be inevitable—and far worse than the subprime-mortgage crisis in 2008. LONDON—It is a truth universally acknowledged that transformative new technologies rewrite the rules of finance. Or so we are told in numerous commentaries, social-media posts, and regulatory filings relating to the current AI investment boom, which may well prove to be a bubble.