This one is even dumber than the banking crisis, at least that one had complicated math
This one is even dumber than the banking crisis, at least that one had complicated math
The common thread is a lack of understanding of system complexity and a lack of foresight/forethought.
And hindsight, I guess, if you consider that the great depression was at least partly triggered by the Smoot-Hawley tariffs.
And that the AI bubble is almost perfectly analogous to the Dot Com bubble. Makes me wonder if any of the early 20th century technology expansions coincided with the 1929 crash…