At this point, the parade of doomsayers warning of the collapse of the AI bubble is almost endless.
Renowned financial commentators like Harris Kupperman have warned that the math on data center investments is unsustainable, economists like Michael Roberts have called AI the “biggest economic bet in US history,” and even the International Monetary Fund has begun fretting that the world economy is on a knife’s edge.
But in the ongoing AI gold rush, the wealthy and powerful keep pumping money into AI and its attendant industries anyway.
Now, crypto investor and finance media guru Raoul Pal is warning of his own kind of AI doomsday — but one where an AI takeover, not a bursting bubble, brings the conventional economy to its knees.
“The next four years are going to feel very different to anything we’ve lived through,” Pal wrote in a post on X-formerly-Twitter.
The post is nakedly self-promotional — it appears alongside a clip of the finance pundit’s “When Shift Happens podcast,” and is followed by a link to buy his book, “The Everything Code” — but even so, Pal does raise some bold claims to his 1.5 million followers.
“Your wages haven’t kept up with the cost of living for years now,” he exclaims. “Governments have to keep debasing the currency to fund everything, and it’s eating into your pay every single year. That part isn’t new.” (Read More)
