Nick Fountain

It was also their banks.

And when banks get into trouble, that causes a lot of pain for a lot more people in society.

Yeah, and Jeff, you've talked to Gadi about a potential bubble that has been very much on your mind right now.

Actually, Jeff, I think the LaBooBoo bubble, the LaBubble, it might have already popped.

Resale prices have gone way down in the past few months.

There you go.

I'm afraid.

So if it is OK with you, let's put aside the plushies dolls and let's try to apply these theories from macroeconomics to what is actually happening now in the stock market, the AI boom.

But there is also some reason to believe that this might not be as bad as 2008.

Because AI companies aren't really borrowing directly from banks that much.

They're mostly borrowing from investors, like from private credit.

So for the moment, at least, even if this AI boom is a bubble, it seems like less of a threat to the backbone of our financial system.

Though, to be clear, we don't really know how much private credit borrows from the banks.

Yes, very Jeff Guo.

But here's a provocative idea.

If AI turns out to be a disappointment and we're left with all these unused data centers full of unused computers, how bad would that be?

Right.

Yeah, and that example, the dark fiber example, it's why some economists have recently started saying...

all bubbles are entirely bad.

Maybe some have silver linings.