The Saudi sovereign wealth funds and similar Middle Eastern investors, Masayoshi Son, a16z (though not all of their funds), Tesla's board, and others seem to be operating in some kind of alternative reality where watching out for your limiteds and shareholders isn't a factor. Do they think they are really TBTF? Is that why JD Vance is where he is?
It's not just the size of the bubble that's scary. It's that some people obviously think they're going to get away with it.
They will do what they always do, which is to vaguely imply that if they are left to the consequences of their gambling addiction then China will get ahead of "us". Note that the general public are only included as part of "us" when Sam Altman needs the general public's funding.
> It's that some people obviously think they're going to get away with it.
Cynical, I know, but they absolutely will get away with it. The wrong people will be punished, as usual. They will claim that "there was no way to know" this could happen.
It's not just the size of the bubble that's scary. It's that some people obviously think they're going to get away with it.