Part 10/13:
The conversation shifts to the speculative fervor surrounding AI and other technological breakthroughs. Leeman draws parallels to the late 1990s internet bubble, recounting how investors heavily bet on the transformative potential of new technology companies. While many early investments ultimately paid off, they often did so only after long periods of patience and turbulence.
He notes that today’s investors are pouring trillions into AI-focused companies like Nvidia at lofty valuations. However, he cautions that many such investments are still speculative, with actual returns and real-world adoption yet to be conclusively demonstrated. The real test will be whether these innovations translate into productivity gains and widespread use that benefits consumers and the broader economy.