Better now than ZIRP for me - at least people are asking timid questions about the unit economics and how long the runway is _early_ while also spending absolutely insane amounts of money on this bet. During ZIRP, these companies would have turned down any investor asking questions. Less contagion when rates aren't zero hopefully? :grimace:

The size of the AI bubble and the IOUs being passed around like a hot potato already dwarfs the real estate bubble preceding the 2007 crash.

If we still were in the ZIRP era, busting the bubble would certainly kill off the world's economy for good simply due to its size.