AI Is the Bubble to Burst Them All

I talked to the scholars who literally wrote the book on tech bubbles--and applied their test. AI may not simply be "a bubble," or even an enormous bubble. It may be the ultimate bubble. What you might cook up in a lab if your aim was to engineer the Platonic ideal of a tech bubble. Since ChatGPT's viral success in late 2022, which drove every company within spitting distance of Silicon Valley (and plenty beyond) to pivot to AI, the sense that a bubble is inflating has loomed large. There were headlines about it as early as May 2023 .