Cisco and other infrastructure companies 'invested' in dot-com companies, who paid datacenter companies who paid Cisco and infrastructure companies.

When you see Nvidia investing 100 billions into OpenAi who promised to Oracle at least 150 billions of investments (which means oracle RTO on 10 year is like 400 billion now, around 4x what it was before Nvidia investment), and Oracle will buy its chips, which are the cost driver for AI datacenter, from Nvidia.

Which is probably the most circular economy-like capitalism can do, in a way, as a leftist I should be happy.

Of course Tesla. But it’s always been a meme stock. I don’t see the AI bubble busting and it affecting the S&P 500 that much. Even before AI, the other public tech companies have real business and AI will be a “sustaining innovation” (see Clay Christenson).

For me personally, Gen AI is just another tool in my tool belt when I implement projects - ie another AWS SDK service call (boto3/Bedrock).

Yes if you have a pension, on the other hand, all bets are off since ther do invest in private equity unlike most defined contribution plans.