POPA ReconAI bubble debate, the question is wrong (Gavin Baker) source
AI bubble debate, the question is wrong (Gavin Baker) source 1. Historically, innovative technologies have always gone through [overheated expectations → overinvestment → demand gap → collapse]. However, the key now is not value, but whether semiconductor investment exceeds actual demand. The multiple itself is not as high as it was 5 years ago. 2. What is different from past bubbles is that there is an absolute shortage of power and wafers. Even if you have a lot of money, power plants, advanced foundries, and semiconductors cannot be replicated in a short period of time. This physical limi…
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