Part 3/15:
Wilson expressed concern about overinvestment fueled by AI hype, pointing out that many of the macro expressions—like valuations at astronomical levels—could face corrections. Yet, he noted that despite risks of sharp declines (potentially 50% or more for some disruptive tech names), the steady infusion of AI expenditure and underlying revenue growth might sustain the cycle longer-term. He warned, however, that this bubble risks deflation if company earnings and growth expectations falter.