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Comment by pembrook | Hacker News Reader

A good sign the bubble is not actually bursting: a mainstream news publication predicting it. [1]

It's still 1994. We won't be near the top until the Telegraph publishes an article overly exuberant about AI and saying AGI is here.

If every idiot commenting on Reddit, HN, X, and mainstream news publications is pessimistic and constantly shouting "bubble!," then definitionally, we have not reached irrational exuberance and we're not even remotely near the top.

[1] https://d.newsweek.com/en/full/566807/theinternetbah3.webp (1995)

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Pretty telling how you dismiss what appears to be the majority opinion online just because it’s a majority opinion. Irrational exuberance is defined in the context of market participants. On a wealth adjusted basis commenters online make up a very small % of shareholders in AI related tech stocks. At least on HN many users are engineers meaning they are close to the metal so to speak whereas the people making investment decisions pride themselves on being detached from technical work even if they pretend to be technically competent in public.

Reddit/HN/X/etc are jam packed with tech workers with $hundreds of thousands of dollars in tech equity. I'm not sure what you're talking about, this board is quite literally the highest income community on the internet.

Given the tone of your comment, it doesn't sound like reasoning from first-principles logically, but instead reasoning from an emotional feeling and working backwards.

It sounds to be like you're hoping for the AI bubble to burst so you can experience the schadenfreude of the "technically incompetent dumb investors" you despise losing all their money.

Hoping for emotional validation is not a very convincing argument that it is happening right now imo.

Every criticism of the wealthy is not always driven by jealousy. And classifying it as such is also a logical fallacy. Maybe engineers are tired of being told what to do by people who don’t understand what they do. Which I’ll admit is a form of resentment. But again that doesn’t make me wrong. Time will tell.

Maybe it is 2000 in your analogy.

Ah, so we are only 5 years away from he whole thing bursting? So, the papers in '94 warning about the dangers were just pessimistic idiot outlets? See ya in 5 years then.

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