Where are we in the AI bubble?

I’m currently reading Andrew Ross Sorkin’s new book 1929, which traces the characters at the center of the market crash that ran from 1929 to 1933 before the Great Depression. The Dow Jones Industrial Average fell 89% from its peak of 381 in September 1929 to 41 in July 1932. In today’s terms, that’s like the Dow dropping back to where it was in 1996.

Sorkin draws subtle parallels to today such as tariffs under Smoot-Hawley, a long bull market, and speculative excess.

But the differences are just as important. READ MORE