This is The Guardian.
Today, from tulips to microchips, is the AI bubble about to burst?
Right.
I'm going to take you back to 1637 when a bunch of let's call them floral enthusiasts gathered in Harlem a days walk west of Amsterdam with their eyes on a very expensive prize tulip bulbs across the country some of these bulbs were selling for well over 700,000 pounds in today's money so when the auctioneer stood up and began the bidding process he figured he was on to a pretty big payday But he was met with silence.
He lowers his prices.
Once, twice, still no buyers.
He lowers them again, and again, and again.
Within days, tulip bowl prices plummeted.
The bubble had burst.
The get rich quick read that eclipsed common sense had turned to panic and collapsed the market.
But did we learn the lesson?
In the 1840s, an explosion of interest in railways drove UK stocks to an all-time high.
Then that bubble burst.
2000.
Hundreds of companies were fighting over dot-com domains.
convinced the internet would make them a fortune.
The bubble burst.
2008.
An abundance of cheap debt had people borrowing at extreme levels.
And yes, the bubble burst.