Because when everyone’s broke, the whole social network changes. People stop pretending the system works for them and start relying on each other instead.
Maybe the real question isn’t whether it’s a bubble but whether everyone’s betting on the wrong players while DARPA quietly builds the real thing. Can you really beat DARPA?
It might be a bubble, but bubbles can last a long time. Here are some famous quotes to illustrate the problem:
“Markets can remain irrational a lot longer than you and I can remain solvent." – A. Gary Shilling, twice named Wall Street’s top economist.
“Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.” – Peter Lynch, American investor, mutual fund manager, author and philanthropist.
We know evaluations are high. We know that AI has not delivered on its promises at least not yet. Investor confidence remains high, but for how long? Nobody knows.
Personally, I think any correction will swiftly bounce because the government will print money to make sure there’s a speedy recovery. We have seen a push to boosting the economy through intensive money printing instead of allowing valuations to crash properly. The Fed loves to kick the can down the road more than anything.
It’s a race to reach AGI first and if it isn’t real, the bubble’s got a long way left to grow i guess.
I just wonder what music culture looks like if you strip out banks, ads, and algorithms entirely.
Not saying crypto fixes it, just that it changes who holds the keys.
The mob rules.