The troubling part is we are in the AI bubble whether we opted in or not.
The downstream effects are everywhere - real estate (data centers), energy (power consumption), education (automated tools), employment (tech layoffs), and equity markets (Nvidia propping up the spoos). It's not one sector this time, it’s systemic adjacency.
During the dot-com crash, retail got burned. During subprime, it was the global financial system. Today, AI exposure is distributed among mega-cap public companies, a16z-style VC funds, sovereign wealth, and shadowy circular debt deals between hyperscalers and AI startups.
Even if you are not betting on AI, your retirement fund is.
The downstream effects are everywhere - real estate (data centers), energy (power consumption), education (automated tools), employment (tech layoffs), and equity markets (Nvidia propping up the spoos). It's not one sector this time, it’s systemic adjacency.
During the dot-com crash, retail got burned. During subprime, it was the global financial system. Today, AI exposure is distributed among mega-cap public companies, a16z-style VC funds, sovereign wealth, and shadowy circular debt deals between hyperscalers and AI startups.
Even if you are not betting on AI, your retirement fund is.