Natalie Kitro-Eff

Okay, let's talk about the dot-com bubble and specifically what's different and what's similar to the moment that we're in now with AI.

Meaning there's a fear that the companies that are laying the fiber optics of the AI revolution, which is, you know, the analogy would say these data centers that are housing all of these chips, that those companies could go under.

That's the fear.

But I'm struck by the fact, Cade, that obviously the dot-com bubble, it burst, but there were many, many winners, right?

I mean, we still have, as you said, a lot of these companies that were born in that era.

So what's the takeaway there?

So for Silicon Valley, it sounds like the lesson of that bubble could very easily be, sure, some people lose in a situation like that.

But broadly, the bet on the Internet was worth it.

It paid off.

So take the bet.

We'll be right back.

Okay, Cade, let's get into the scary thing that you brought up before the break, that the risks here could be much more significant.

Talk to me about that.

What are those elements?

What's worrying them?

Right.

That was the thing that made the 2008 crash so bad, the amount of debt that had piled up under the housing market.

But these tech companies, they're some of the richest corporations in the world.

So why are they financing the AI boom with debt?

Why is that happening?