> absent the AI boom we would probably have lower interest rates [and] electricity prices, thus some additional growth in other sectors.
In other words, the AI hype comes at the cost of lower growth rates in other sectors of the economy?
It makes sense, since investor money is spent exactly once. If it goes to AI then it doesn't go elsewhere. And if it didn't go to AI then it would go elsewhere.
Sad for folks outside tech. But at least they can AI generate cat pictures now, and watch their tech friend use AI tooling to write software.
In other words, the AI hype comes at the cost of lower growth rates in other sectors of the economy?
It makes sense, since investor money is spent exactly once. If it goes to AI then it doesn't go elsewhere. And if it didn't go to AI then it would go elsewhere.
Sad for folks outside tech. But at least they can AI generate cat pictures now, and watch their tech friend use AI tooling to write software.