Megan McCarty Carino

In what ways is it in line with those?

We'll be right back.

You're listening to Marketplace Tech.

I'm Megan McCarty Carino.

We're back with David Kirsch, professor at the University of Maryland.

Talk to me about the uncertainty piece, because, I mean, in some ways it seems extremely obvious.

Of course, we don't, you know, we've never had this technology before.

We don't know exactly how it's going to slot into things.

But I think at times...

you know, from business leaders, from tech leaders, there sounds like there's a lot of certainty about how valuable this is going to be and, you know, how it's going to be used and how it's going to replace all labor and that kind of thing.

Like, how would you kind of define the uncertainty landscape for AI?

Are there ways in which the AI boom diverges from your bubble criteria in important ways?

The role of novice investors in this boom does seem to be smaller than, say, the dot-com boom.

A lot of the speculation that's happening, you know, debt financing, data centers, whatnot, is happening in private credit markets.

Obviously, there's a lot of investors in NVIDIA and the magnificent seven tech companies on the stock market.

But how different is, you know, kind of the public versus private novice investment in this boom?

So to your eye, does it look like AI is becoming too big to fail?

That was David Kirsch at the University of Maryland.

His book is called Bubbles and Crashes.

This conversation was part of our recent AI and You series.