I have no analogy for this except the railroads of the Gilded Age. Did railroads become a pretty big deal? Yeah. They were also a giant vortex that slurped up endless investment, far more than the real demand could possibly justify. And it ends, well, we know how it ends.
Fiber optic and data center build out in the nineties is similar. Overinvestment led to a bust for a period, but the infrastructure was useful and provided the foundation for the next wave of Internet growth. LLMs could be similar.
I have no analogy for this except the railroads of the Gilded Age. Did railroads become a pretty big deal? Yeah. They were also a giant vortex that slurped up endless investment, far more than the real demand could possibly justify. And it ends, well, we know how it ends.