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Their words
That was true of industrial technology in 1870-1970; people basically got used to the idea that railroads and factories and oil and industrialized warfare and such matters were central to the way the world was run and to the collective future of humanity. AI is going to be like that going forward, and we’re just going to have to get used to that.
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Ray Dalio x.com
Almost every technology boom creates a bubble, then a bust, whether it’s railroads, the Industrial Revolution, or the late 1920s. Think about the late '20s: electricity, refrigeration, telephones, radios, airplanes, and cars were all emerging at once. Naturally, people wanted to invest in these miracles. The danger is that people fail to distinguish the miracle from the investment. A technology can be truly transformative, but if the stocks are priced too high or bought on debt, you get a crash. That is the mechanics behind how bubbles form and burst. New technology will be great, there is no…
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18 September
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