Everything Everywhere All at Once

Since the midterms were largely about affordability and fairness, and featured a rejection of the nonstop, unregulated data center sprawl, it may be tempting for some to celebrate the idea that the hubristic AI industry finally got theirs. But they don’t get theirs without you getting yours. The rising tide of AI may not have lifted all boats, but the draining of economic enthusiasm around that industry could sink us all. It’s the AI economy, stupid. AI drives big tech and together they drive the entire economy. Stocks, bonds, credit markets, hedge funds, bank lending, stock portfolios, your retirement account, investments, venture capital … no part of our financial system, from Wall Street to Main Street to 21 Jump Street, would escape a bubble burst unscathed. “Any downturn in the AI industry, either in the buildout of its infrastructure or the valuations of its stocks, will reverberate far beyond Silicon Valley. Technology companies have dominated the stock market for years, but artificial intelligence has pushed the concentration to new heights. Tech now accounts for nearly half the value of the benchmark S&P 500 Index.” Bloomberg (Gift Article): AI Has Taken Over Every Corner of the Market.