Part 2/12:
Wood began by reflecting on her past experience during the late 1990s dot-com bubble, contrasting it with today's environment. In the late 90s, investors blindly poured money into any internet-related company, fueling a bubble. Today, however, she notes that markets are climbing a "wall of worry," characterized by hesitance and skepticism about the AI hype cycle.
She argues that these "walls of worry" often mark the most durable bull markets, citing the 1980s and 1990s as examples. According to Wood, the current AI boom, like the late 90s' tech surge, is driven by revolutionary technology and a belief in American technological and economic dominance—though she acknowledges challenges posed by China's rapid progress in AI and technology sectors.