The US economy is splitting in two. There’s a rip-roaring AI economy. And there’s a lackluster consumer economy. Last quarter, spending on AI outpaced the growth in consumer spending.
Yet, the whole ‘AI economy’ is itself a house of cards. Companies are losing hundreds of billions and all gains are in speculative valuation. The only winner here is Nvidia, and all it does is just flip Taiwan’s chips to cash-burning companies.
My kid got a social studies review sheet that said that Mount Everest is in the city of Nepal. And yes, we know that teacher uses AI for their lesson plans.
It used to be so exciting to find out that the answer in the back of the book was wrong and you were right the whole time…