this isn't accurate. as an example, anyone with a 401k will be affected by the stock market and the stock market is mostly tech, and tech has bet the house on ai

Hopefully, people who need to pull from their 401k's soon have wound down to less risky positions. 401k exposure is just not the same thing as your house valuation tanking.

Markets do include significant risk and we would do well to remember that.

And the debt on which these owners defaulted had been converted into CDOs and mortgage-backed securities, it was financial institutions and investors who lost enormous amounts of money on these.

Today there are GPU-backed securities and compute futures that are helping back all the debt that is financing the datacenter boom. Maybe it’s a bubble, maybe it’s not a bubble, but either way I think its parallel to 2007.

For proof, look at the fall in VWRL last week Correlated with concerns over AI.

A bubble that funds all kind of crazy ideas and big investments into infrastructure work is great for laying the groundwork. But the end of the bubble won't mean the end of progress, or even necessarily a slowdown in progress