« The crypto market is a bubble by definition, because there is no fundamental source of underlying value. Such assets do not generate cash flows for those who hold them; their current value depends upon expectation of greater resale value. A good parallel is the Dutch tulip mania during the 1630s, when the object of speculation similarly lacked any fundamental underpinning.
The AI hype cycle is a more common species of bubble. Once again, an innovative technology has emerged whose fundamental, long-term economic consequences cannot be known in advance. The bubble may have already peaked with this month’s anti-climactic launch of OpenAI’s GPT-5 model, but only time will tell. »
— Economist and investor William H. Janeway at Substack, Enewspolar, and Project Syndicate (archived).
Crypto is a bubble. But even worse, crypto is a nothing bubble; at least when the infamous Dutch tulip bubble burst, you still at least had nice flowers – which cost a fortune.
Some tech companies are treating AI almost as an end in itself rather than as a tool. Relatively few tech ads don't mention AI as if it were some magical incantation.
I suppose the ultimate hypothetical scam these days would be AI crypto. 😱
Get rich quick schemes are 99% crap – and only those at the start of those schemes who get out soon after the initial bump do not end up as losers in some way.
Don't buy into crypto investments or retirement plans unless you're a fan of destitution. There's talk of the Trump administration allowing such investments. It should tell you something that a conman like Trump would permit this.
Remember crypto's artsy cousin the NFT? 95% of NFTs today are now worthless.
Don't get suckered by Trump and his tech bros.
