“Keeping perspective” is Michael Pascoe’s mantra. He writes that AI mania has not just warped perspective, it risks blowing up reality.
Over more decades than I care to count of market watching and reporting, I haven’t seen a time when there’s been more wide-spread conviction that we’re experiencing a dangerous bubble that’s sure to pop, yet the money keeps pouring in to inflate it.
The lead up to the “Crash of 87”, now viewed in the rearview mirror as a minor hiccup, was relatively muted. Not even the “dot bomb” bubble at the turn of the century, when all a company had to do to get a share price boost was to add “e” or “dotcom” to its name, was as widely perceived as over-cooked as the present outlook.