OpenAI: A Bubble Bigger Than Dotcom

 https://www.youtube.com/watch?v=zDtvrme-L-0

 

AI companies will fail. We can salvage something from the wreckage

"AI is the asbestos in the walls of our technological society, stuffed there with wild abandon by a finance sector and tech monopolists run amok. We will be excavating it for a generation or more. 

To pop the bubble, we have to hammer on the forces that created the bubble: the myth that AI can do your job, especially if you get high wages that your boss can claw back; the understanding that growth companies need a succession of ever more outlandish bubbles to stay alive; the fact that workers and the public they serve are on one side of this fight, and bosses and their investors are on the other side.

 Because the AI bubble really is very bad news, it's worth fighting seriously, and a serious fight against AI strikes at its roots: the material factors fueling the hundreds of billions in wasted capital that are being spent to put us all on the breadline and fill all our walls with hi-tech asbestos."

 https://www.theguardian.com/us-news/ng-interactive/2026/jan/18/tech-ai-bubble-burst-reverse-centaur

 

Global stock markets fall sharply over AI bubble fears

Drop in US, Asia and Europe follows warning from bank bosses that market correction could lie ahead…

https://www.theguardian.com/business/2025/nov/05/global-stock-markets-fall-sharply-over-ai-bubble-fears

 

AI Is Garbage and a Bubble (Please Learn This) • Richard Carrier Blogs

" There is no AI. What is being called artificial intelligence and sold as snake oil under that label is actually artificial stupidity. It will destroy your own personal ability to critically reason. It will destroy your company—by reducing, not increasing, productivity; and by increasing, not reducing, your risk-exposure to critical errors. And it will destroy the economy. Not by taking jobs. It will never replace any significant number of jobs, because it is garbage. It can't do even the simplest job. It fucks up more than a tween on weed. Rather, it will destroy the economy by wrecking pensions and banks and tanking the global economic system, resulting in massive layoffs and food lines, because any time now trillions of dollars of the global economy are literally going to evaporate—the moment people realize they are being conned and AI can never make money, or do any of the big things its grifters have desperately been claiming, and they even more desperately try to sell their position, and the whole stock market crashes..."

https://www.richardcarrier.info/archives/38652

 

The State of the AI Industry is Freaking Me Out - YouTube

https://www.youtube.com/watch?v=Q0TpWitfxPk

The AI bubble could pop the US and global economies

Is artificial intelligence a bubble that is about to burst? If so, what would be the consequences for the U.S. and global economy?

https://thehill.com/opinion/finance/5567521-ai-bubble-burst-consequences/

 

Bank of England's Bailey: Crypto investors risk losing all their money

…Michael Hartnett, chief investment strategist at Bank of America Securities, said bitcoin's rally looks like the "mother of all bubbles," while Alvine Capital's Stephen Isaacs believes there are "no fundamentals with this product, period."…

https://www.cnbc.com/2021/05/07/bank-of-englands-bailey-crypto-investors-risk-losing-all-their-money.html

Biden’s bubble risk: A reckoning in markets as the economy recovers - POLITICO

... From meme stocks to cryptocurrencies, tech stocks and the rage for "Special Purpose Acquisition Companies," or SPACs, risks are clearly rising...

https://www.politico.com/news/2021/03/01/bidens-market-bubbles-economic-risk-471835

The shadow banks are back with another big bad credit bubble - The Washington Post

Federal Reserve Chair Jerome Powell gave a speech a couple of weeks back that showed that financial regulators have learned many lessons from the 2008 financial crisis, but not the most important one, namely: If regulators wait to act until they can say with certainty that a credit bubble is about to burst, they’ve waited too long.....
https://www.washingtonpost.com/business/economy/the-shadow-banks-are-back-with-another-big-bad-credit-bubble/2019/05/31/a05184de-817a-11e9-95a9-e2c830afe24f_story.html

Fox News and the White House created a gigantic toxic bubble -- but it's about to pop - Raw Story

Think of two bubbles. One is the alternative universe presented by Fox News in which darkness reigns and every single word or action taken against the right wing and its president is perceived as an attack or smear that's inherently part of a titanic conspiracy aimed at wrecking your life. I have visited that weird Fox bubble on occasion, walked the halls of what feels more like an Orwellian Ministry of Truth than a newsroom. Reality is cast to the side.

The other bubble is the White House itself...
https://www.rawstory.com/2018/05/fox-news-white-house-created-gigantic-toxic-bubble-pop/

Bitcoin Is Worthless, Bubble May Pop Soon, Allianz Global Says - Bloomberg

It's a matter of when, not if, the Bitcoin bubble will pop, according to Allianz Global Investors. The cryptocurrency is worthless, even if blockchain technology could bring significant benefits to investors, said the investment arm of Europe's biggest insurer, which manages almost 500 billion euro. ....
https://www.bloomberg.com/news/articles/2018-03-14/bitcoin-is-worthless-bubble-may-pop-soon-allianz-global-says

Investor who called last two major market crashes says bitcoin is a bubble -- CNBC

Noted investor Jeremy Grantham, who called the last two major market bubbles, said bitcoin is a bubble that may crash soon. ....
https://www.cnbc.com/2018/01/04/investor-who-called-two-market-crashes-says-bitcoin-is-a-bubble.html

How to explain in five minutes or less what happens when the rich get tax cuts

The corporate special interest group spin is that the rich will spend more if only we give them more in the form of tax cuts.

If people buy this story, then they think they’re doing the right thing by giving rich people tax cuts. That is, it doesn’t even matter if all of the benefits of the GOP tax bill are geared toward America’s wealthiest, because the wealthy will use this money to “create” more jobs as they say.

This is why it’s important to have a simple story about what really happens when the rich get tax cuts. Here’s how to explain in a way that makes it easy for people to understand in five minutes....
https://www.dailykos.com/stories/2017/12/10/1722078/-How-to-explain-in-five-minutes-or-less-what-happens-when-the-rich-get-tax-cuts