"AI investments can quietly destroy capital long before any market correction signals the problem"

What do people think of this very interesting letter to the FT?

Can investments in AI appear successful while "steadily destroying value"?

[https://www.ft.com/content/f1673de8-4eb6-4bb1-8302-a0fa2135bedb](https://www.ft.com/content/f1673de8-4eb6-4bb1-8302-a0fa2135bedb)