This statement is factually wrong. AI isn't financed by profits, it's financed by debt - the "$300B AI exposure off balance sheets" in the title refers to debt. The buy-back grift isn't legit either, but it's not as a damaging as the AI buildout.
> My theories on why people are so anti-AI: 1,2,3
Wrong theory again. The sky-high AI debt causes inflation, asset extraction and market scalping by front-running it. The opportunity cost prevents the rest of the economy from allocating capital to competing ventures and from increasing capacity - part of the reason for inflation.
That's what an honest economics analysis would tell you.
> 2. If there is an AI bubble, great, when it pops, we'll all have ultra cheap tokens
Wrong again. We already have ultra-cheap tokens from China but the bubble continues unimpeded, feeds on inflation and if that's not enough, bailouts are certain. Inflation is a way to silently pop the bubble at the expense of consumers leaving the perpetrators whole, that's where it's all going.