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Some are saying the chip/AI/ML stocks are about to take a hit after the massive interest in them. They are wrong, the world is just in the very early stages of dispersing and depth of use of AI/ML. AI/ML are set to be the largest disrupters in the history of man. AI/ML will propel scientific discovery and implementation at a speed once considered unimaginable at a fraction of the cost of traditional discovery and implementation. Combined with advanced robotics designed and enabled by AI/ML, the main danger ahead is can the ecosystems we have now keep up and can people adapt to a rate of change put on the steroids of AI/ML. The largest danger of AI/ML is can we adapt fast enough that a wave of destructive social upheaval isn't the result? The people/companies/organizations that chose to master and ride this wave will be the winners and those that ignore it do so at their own peril. Any thoughts, comments or additions sought and welcome.
There were indeed crashes of Sun and Cisco, as well as other internet-related hardware companies with the dotcom bust. And many of the original software / cloud stars of the dotcom era either faded into irrelevance (Yahoo) or died over-capitalized deaths (remember Netscape or Webvan, anyone). But strangely, others, like Google, Amazon (originally books by mail via web) and Netflix (originally videos by mail via web), have grown into monsters by replacing and supplementing existing businesses. And whole new generations of dotcom businesses like Uber, Instacart, Shopify, DoorDash, Facebook, TikTok and others have emerged after the crash as new behemoths that replace or supplement existing businesses. So my view is that there will be plenty of AI failures, but also some huge new disruptive successes over the next twenty years. Predicting future winners and losers is the hard part.
