Article appears to be conflating big tech companies that print money with AI startups like OpenAI and Anthropic.

After the opening paragraphs about the accounting practices of meta, Microsoft, alphabet, etc - which, it should be noted are not “houses of cards” and earn plenty of money - the article quietly transitions to

> Experts continue to warn of an AI bubble, noting the enormous and widening gulf between company valuations and their comparatively measly profits.

I think hoping people will apply the “house of cards” logic by that analyst they quoted to the startups, when instead the analyst was talking about the megacorps’ accounting.