<
https://theconversation.com/the-ai-boom-feels-eerily-similar-to-2000s-dotcom-crash-with-some-important-differences-269472>
"If last week’s trillion-dollar slide of major tech stocks felt familiar, it’s
because we’ve been here before – when hype about innovation last ran headlong
into economic reality.
As markets slump on the back of investor unease over soaring valuations of
artificial intelligence (AI) companies, commentators are asking the same
question they were during the dotcom crash 25 years ago.
Can technology really defy basic economics?
It’s a question I discussed in my inaugural professorial lecture at the
University of Otago back in August 2000, just as internet stocks were tumbling
and hundreds of dotcoms were failing.
I argued then that many internet firms were “naked” because their business
models were visible for all to see. They spent vast sums to attract customers
with no credible path to profit.
A generation later, the same logic is driving the AI boom."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
