Liaquat Ahamed

…it doesn't earn any money and so you know all it would take to if that if that hope were suddenly uh to get shattered by something uh it were you know the stock market would crumble and what about we talked about bubbles earlier and the bubbles the three bubbles leading up to 1873 what about the ai bubble do you believe that it is a bubble first of all what similarities can we draw well it it's a it's a it's certainly a boom and it um and it 's uh but um i suppose the the way to think about it is if you take the railroads in the u.s the amount of money that was going into railroad construction is about the same as the amount that's going into the construction of data centers and all of the infrastructure behind ai um if that were to stumble or even to take a pause if people were to suddenly say so what happened in the railroad case of the railroads is 500 new railroads were created and by the end of 1872 only a hundred were able to pay dividends and their profitability started declining and they were all…From: this video · 3 claims mined from it

…and the stock market by all measures is extremely expensive and it wouldn't take much to cause it to stumble and foreigners own a ton of U.S. securities. I think we had inflows of one and a half trillion dollars by foreigners into the U.S. stock market. We've just had the largest IPO in history with SpaceX which is now which is worth one and a half trillion dollars and is earns no money so there are all the signs of the latter stages of mania. When asked about what the most consequential date in human history is some might say 1914 if you're in the west anyway or 1939 of course the beginning of the first and second world war. Some might point to 1776 when America declared independence or even 1066 when the Norman conquest altered the course of English history. Many would argue for 1929 in the Great Depression the economic shockwaves res ounding globally but what about 1873 which as my next guest argues is the lesser known financial meltdown in the west. The basis then for the Pulitzer Prize winning author and fin ancier Lia Kat Ahmed's new book 1873 the…From: this video · 3 claims mined from it

…take to if that if that hope were suddenly uh to get shattered by something uh it were you know the stock market would crumble and what about we talked about bubbles earlier and the bubbles the three bubbles leading up to 1873 what about the ai bubble do you believe that it is a bubble first of all what similarities can we draw well it it's a it's a it's certainly a boom and it um and it 's uh but um i suppose the the way to think about it is if you take the railroads in the u.s the amount of money that was going into railroad construction is about the same as the amount that's going into the construction of data centers and all of the infrastructure behind ai um if that were to stumble or even to take a pause if people were to suddenly say so what happened in the railroad case of the railroads is 500 new railroads were created and by the end of 1872 only a hundred were able to pay dividends and their profitability started declining and they were all competing against each other uh so the…From: this video · 3 claims mined from it