cross-posted from: https://lemmy.dbzer0.com/post/71366855
I won the Pulitzer Prize for History for Lords of Finance, my account of how four central bankers’ decisions triggered the Great Depression. I have just completed 1873, a book on America’s railroad boom of the 1870s — the last time private capital flooded into a transformative new infrastructure technology at a scale comparable to 2%–3% of GDP. That research is why, when I look at the AI buildout today, I am genuinely frightened.
I posted this because I think the AI bubble bursting would significantly affect Europe, too (as well as the current lack of indepence in AI adoption).
It would also be interesting to learn more about where capital investments in AI in Europe are coming from. There seems to be a massive inflow of capital in AI start-ups, for example in the health sector, and my impression is that behind these are US companies like Uber and Tesla which a going for disruption.