Because everyone recognizes AI as a dazzlingly important idea, everyone rushes to invest in it, which draws in enormous capital and produces over-investment — the mechanism by which manias in obviously-important technologies still ruin investors.
causalpending
Speaker
Jeremy GranthamEvidence Quote
“it sucks in more than you can shake a stick at, and you get over-investment. So, everyone in the end, in those situations, loses their shirt.”
Source
Billionaire investor Jeremy Grantham: This is the most expensive market in American history— CNBC TelevisionCreated: 7/5/2026, 11:28:50 PM
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