If AI and crypto aren’t bubbles, we could be in big trouble
If AI and crypto are not bubbles, we could be in big trouble.
What if the trillions of dollars placed on those bets turn out to be good investments? The disruption will be epic, and terrible.
A lot of speculative manias are just fun for a while and then the last in lose their shirts, not much harm done, like the tulips of 1635, and the comic book and silver bubbles of the late 1980s.
Sometimes the losses are so great that banks go broke as well, which leads to a frozen financial system, recession and unemployment, as in 1929 and 2008.
And sometimes the thing being speculated on is real and worthwhile, but people just get carried away and pay too much for it.
The first investors lose their shirts but subsequent ones clean up, like the…
