A headline about the railroad industry in the 1800’s. AI is now the vehicle for such hyperbole. Similarities to the railroad revolution is the investments by speculators hoping to participate in the promises of AI’s success. Banking and Private Credit are eagerly making loans to ventures, even down to Blockchain investment funds.
Banks and railroad economic disasters.
Panic of 1873 (railroads) , Panic of 1884 (banking failures), Panic of 1890 (banking), Panic of 1893 (railroads), Panic 1901 (railroads), Panic of 1907 (banking), Crash of 1929 (stock market, banking), 1970 Penn Central Bankruptcy.
There will be an AI event no matter the current promises.