They’re likely to burst.
Friends,
What happens when huge amounts of money pour into poorly understood and unregulated industries that promise spectacular profits for a few winners?
At best, some investors lose their shirts while the lucky ones make fortunes. At worst, the bubble bursts and takes everyone down with it — not just its investors, but the entire economy.
My purpose today isn’t to worry you but to give you some economic information that may help you. I’m deeply concerned that two opaque industries are creating giant bubbles on the verge of bursting.
One is AI.
AI is worrisome enough as is — its insatiable thirst for energy and water, its capacities to override the wishes of human beings, its potential to destroy the planet.
My immediate concern is that AI is becoming a financial bubble whose bursting will harm lots of innocent people.
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