> The narrative of boom and bust is familiar—but also out of step with the possibilities of a new technology.

https://archive.ph/2025.12.15-153354/https://www.newyorker.c...

Treating AI as a philosophical curiosity avoids real analysis of risk and opportunity. The right question is not “is this a bubble?” but “which parts of the AI economy have durable value, and which are speculative excess?” Not unlike the speculation in the cryptocurrency markets. Framing it rationally will give meaningful guidance instead of a confused mix of anecdotes and abstractions.