Goldman Sachs recently stoked fear about software stocks due to claimed AI competition.

What if their strategy is this: slowly drive down software stocks, keep talking about AI, buy the downward market. Then cash in on the IPOs of OpenAI and Anthropic.

Then let OpenAI and Anthropic implode. Goldman Sachs had no problems underwriting webvan at the end of 1999, which then imploded in 2000.

Anyway, I just valued my dog at $1 billion post-money. You can buy it at pets.com.

Matt Levine has put this forward in his newsletter - if you're moderately influential you can go on TV and tell people that "X industry will be dead in 10 years" because of AI and then profit from the inevitable stock dip.

Because we live in the worst possible timeline the end result for AI companies does seem to be "too big to fail", where these massive investments will get foisted on working class people via a bailout or an IPO and index inclusion.

You're attributing way too much intent to what is the viewpoint of some random analyst at Goldman Sachs (who doesn't even control any purse strings). A year ago there was another big hullabaloo when a GS team wrote a long post about how AI companies would never make enough revenue.