The railroad bubble and the dotcom bubble feature prominently as disastrous misallocations of capital in one of my favorite books: "Devil Take the Hindmost: A History of Financial Speculation."

Pitching AI as in the same vein is a very dark prognostication. As in, probably going to cause a wreck so bad we won't see breakeven in our lifetimes. The railroad bubble and the dotcom bust were generational economic calamities. For Gen X and Millenials, combine that with the 2008 GFC and it's been nonstop waves of speculation-driven disaster drowning us our whole lives.