The tech isn’t going away, but a hard reset is overdue to bring things back down for a cold hard reality check. Article yesterday about MSFT slashing quotas on AI sales as customers aren’t buying is in line with this broader theme.
Morgan Stanley also quietly trying to offload its exposure to data center financing in a move that smells very summer of 2008-ish. CNBC now talks about the AI bubble multiple times a day. OpenAI looks incredibly vulnerable and financially over-extended.
I don’t want a hard bubble pop such that it nukes the tech ecosystem, but we’re reaching a breaking point.