alt Hacker NewsHistory doesn't have to repeat. There's barely anything else going on in terms of innovation, and AI is a real step function technology. We might be overspending but there's no way we're getting another AI winter like last time (remember last time investment in 90s AI had to compete for resources with the internet boom).
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The dotcom bubble burst and 26 years later we’re all hopelessly addicted to the internet and the top companies on the stock market are almost all what would have been called “dotcoms” then.
The railroad bubble burst in 1846 not because trains were a dead end - passenger number would increase more than 10x in the UK in the following 50 years.
> History doesn't have to repeat
This is high up there on the list of things people say before, you know, it does
Isn’t that covered at the top of the post?
> AI is here to stay. If used right, chances are it will make us all more productive. That, on the other hand, does not mean it will be a good investment.