Is anyone looking at these recent circular financing in AI and having flashbacks?
We have (potentially) investor overconfidence, 'new' innovation (an old financing method being used on a scale and methods never seen), and extreme debt (household, private and public).
The level of spending is far beyond generated income, even forward guidances.
Granted I use AI myself in my day job and is increasing productivity no doubt. It's here to stay.
The tech bubble burst but here we are in a world where we can't live or work without what was envisioned at that time, by those companies.