“1929”, by #AndrewRossSorkin

I’m in the middle of this very interesting and well written book. The market crashed by the point I’m at in the book and now in the early 30’s and the Depression.

I was curious about how the ’29 and the 2000 Dot Com crash compares to the AI bubble and likely on-coming AI caused crash. An apparent difference between the prior two and the on-coming AI crash is that the market was driven in part by the frenzy of everyday people investing in the wealth fantasy hyped by wall street marketing. The AI bubble seems not to involve everyday people. It appears to be the frenzy of corporate America, venture capitalists, and the very wealthy.

And that may be worse by collateral damage to non-AI focused corporations and banks, affecting all of us.

This bubble’s consequence is investment funding thrown at AI that could alternatively have been invested in actual beneficial products, capital improvements, and services.

#Business #Economy #WallStreet #AI #AIBubble #StockMarketCrash #Bubble