Despite the exciting products powering the AI boom (Claude, ChatGPT), the pattern of booms and busts is universal because exciting markets attract FOMO and capital flows, but the cycle is driven by capital availability and sentiment, not fundamental durability—just as many picks-and-shovels companies (Nortel, Lucent, Global Crossing) went bust despite the internet ultimately transforming the world.
causalpending
Speaker
Louis GavkEvidence Quote
“the story of every boom and bust is a story of of FOMO, of excitement...All that turned out to be true...But along the way still a lot of people went bust and it's the history of every of every capital cycle.”
Source
There's Going To Be One Hell Of A Hangover When The Market Party Ends | Louis Gave— Adam Taggart | Thoughtful Money®Created: 8/12/2026, 6:25:43 PM
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