Is AI a bubble? Probably.
    
    Does that make it meaningless? Not at all.
    
    Carlota Perez’s Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages (2003) is strikingly prescient--and worth revisiting

   [thread]

Perez goes back to the technology of canals:

* https://en.wikipedia.org/wiki/Technological_Revolutions_and_...

People getting excited for something (perceived as) new is part of the human character.