The 17x refers to a macro model based on the "cumulative Wicksell spread" that suggests the stock market may be overvalued due to interest rates, nothing about AI specifically.
The youtube talk, and the slides which are from his report are quite interesting, and I think the economic analysis is quite good, though he's not a tech/AI guy.
As far as I can figure for the Wicksell spread you calculate (annual GDP growth) +2% - (annual interest rates) and then integrate that which gives a graph with bumps on and the current bump is 17x the size of the one at the time of the dot com bubble.
You can see him talking about the research here https://youtu.be/uz2EqmqNNlE?t=40
The 17x refers to a macro model based on the "cumulative Wicksell spread" that suggests the stock market may be overvalued due to interest rates, nothing about AI specifically.
The youtube talk, and the slides which are from his report are quite interesting, and I think the economic analysis is quite good, though he's not a tech/AI guy.
As far as I can figure for the Wicksell spread you calculate (annual GDP growth) +2% - (annual interest rates) and then integrate that which gives a graph with bumps on and the current bump is 17x the size of the one at the time of the dot com bubble.