A chief economist at investment giant Apollo says the top ten AI stocks are more detached from reality than the tech titans of the 1990s were. His chart is a stark warning that history is about to repeat itself.
The stock market has predicted 9 of the last 5 recessions
But seriously a big difference I see is the level of influence and govt/military association many of these companies have. Google might be more overvalued than AOL was, but how many DoD contracts did AOL have? I can’t buy that the US would let these companies crater when American military supremacy (or at least its pretense, which is about just as important) depends on it
The stock market has predicted 9 of the last 5 recessions
But seriously a big difference I see is the level of influence and govt/military association many of these companies have. Google might be more overvalued than AOL was, but how many DoD contracts did AOL have? I can’t buy that the US would let these companies crater when American military supremacy (or at least its pretense, which is about just as important) depends on it