Source: CounterPunch
by Dean Baker
“I have written before on the AI bubble. The stock valuations we are seeing now look a lot like the valuations we saw before the Internet bubble began to crash in 2000. Even a quarter century later, people miss much of the story of that bubble. It’s true we had companies that never made a profit, like Pets.com, with valuations in the billions. But the story went far beyond some flaky companies having ridiculous market capitalizations. The irrational exuberance, to use Alan Greenspan’s great term, infected everything.” (04/30/26)
https://www.counterpunch.org/2026/04/30/will-gravity-pull-down-the-ai-bubble/