GenAI financing is a flat circle. The bubble bursting is going to have a huge blast radius.
It might take out your 401k for a decade.
At a certain point you just expect it.
[1]: https://en.wikipedia.org/wiki/August_2011_stock_markets_fall
Its like fruit fly generations, not 20-30 year human cohort generations.
I would expect to see OpenAI, Anthropic, and a lot of the little tool wrappers to get taken out though, or at least acquired for pennies on the dollar when it bursts.
But like the last one, it's going to be us, the tax payers, that are left holding the bag.