3 ms·
'Bubbles' and 'gold rushes' are different things.
by gojomo 3y ago
'Bubbles' and 'gold rushes' are different things.
- MrBuddyCasino 3y agoNot really.
- dagmx 3y agoIn what sense? The gold rush precipitates the bubble.
- d1sxeyes 3y agoOnce everyone has a shovel, or enough people have mined enough gold, either the demand for shovels or gold will collapse. A savvy shovel seller will be aware of that, but it sounds a lot like a bubble to me.
- gojomo 3y agoBut when the gold rush is reaching a newly-discovered lode, at the end, there's real new gold! That they both eventually exhaust doesn't make them the same; one is fumes, the other involves a real expansion in the stock of usable resources. People's cynicism here has them ignoring real enduring positive shocks in the economy – even though that's been the nonstop history of our tech industry. A few suppliers transient stock valuations may be, at times, a 'bubble'. But the fundamental (& irreversible advances) in AI technology aren't the bubble.
- rsynnott 3y agoI mean, they're not the _same_ thing, but they're a closely related phenomenon. And certainly you have parallel shovel-sellers in the dot-com bubble (notably Sun Microsystems).