<html class="apple-mail-supports-explicit-dark-mode"><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body dir="auto"><div dir="ltr"></div><div dir="ltr"><p style="margin: 0px 0px 12px; font-style: normal; font-variant-caps: normal; font-width: normal; line-height: normal; font-family: "Times New Roman"; font-size-adjust: none; font-kerning: auto; font-variant-alternates: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-position: normal; font-feature-settings: normal; font-optical-sizing: auto; font-variation-settings: normal; -webkit-text-stroke-width: 0px; -webkit-text-stroke-color: rgb(0, 0, 0);"><span style="font-kerning: none;">A correction in AI valuations wouldn’t necessarily mean AI itself is a bubble. Financial bubbles and technological revolutions are not the same thing. Investors may lose money when expectations become disconnected from reality—that’s the nature of speculative markets—but that doesn’t invalidate the underlying technology. We saw something similar with the dot-com era: many companies failed, yet the Internet went on to reshape the world. The real risk lies in speculation around a genuine technological need, not in the need itself. AI is already creating value across countless sectors, and that trajectory seems far more durable than short-term market sentiment.</span></p><div><span style="font-kerning: none;">Carlos Vera</span></div><div><span style="font-kerning: none;"><br></span></div></div><div dir="ltr"><br><blockquote type="cite">El 27 jul 2026, a la(s) 10:47, Olivier MJ Crépin-Leblond via Chapter-delegates <chapter-delegates@elists.isoc.org> escribió:<br><br></blockquote></div><blockquote type="cite"><div dir="ltr">
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Dear Glenn,<br>
<br>
unfortunately I used to enjoy publications from Cory Doctorow,
enshittification being an enjoyable read.<br>
<br>
However, I challenge his concept of the AI bubble bursting, as if
the AI companies are not making money and are going bust. The
paragraph about NVIDIA did it for me, because it is exactly the
wrong example:<br>
<br>
"He cites the case of Nvidia, which lost $600 billion in one day in
2025 after China released DeepSeek — an AI-powered chatbot vastly
cheaper than American models. As the maker of expensive high-end
chips used by AI companies, Nvidia saw its stock lose, as Doctorow
describes it, “two! thirds! of! one! trillion! dollars!”"<br>
<br>
NVIDIA did not lose $600 billion. Its market valuation went down
$600 billion in a day.<br>
<br>
The value of NVIDIA bears no resemblance with its actual profits.
That's an investor problem, not a corporate company problem.
NVIDIA's results are:<br>
<br>
Annual Revenue Breakdown<br>
<br>
Fiscal Year 2026: $215.938 billion (65.47% increase)<br>
Fiscal Year 2025: $130.497 billion (114.2% increase)<br>
Fiscal Year 2024: $60.922 billion (125.85% increase)<br>
<br>
Net Income (Profit) Breakdown<br>
Fiscal Year 2026: $120.067 billion<br>
Fiscal Year 2025: $72.88 billion<br>
Fiscal Year 2024: $29.76 billion<br>
<br>
NVIDIA is doing very well, thank you.<br>
<br>
One often talks of "AI bubble" in the sense of "DotCom bubble" and I
would argue that these are two very different things. If you look at
some of the failures resulting from the DotCom bubble (
<a class="moz-txt-link-freetext" href="https://en.wikipedia.org/wiki/List_of_companies_affected_by_the_dot-com_bubble">https://en.wikipedia.org/wiki/List_of_companies_affected_by_the_dot-com_bubble</a>
) you can see a lot of completely irrelevant companies with huge
failures in business cases. These companies disappeared altogether.
The companies burning through cash at an incredible rate, with no
income.<br>
<br>
In the current "bubble" are are seeing that some private investors
might see their savings disappear in the "bubble" bursting. Well -
same as the Gentech "bubble", and then the Bitcoin/Crypto "bubble".
And still, that didn't end the world.<br>
<br>
Second, he focuses solely on Large Language Models (LLMs) and
Generative AI which at present is trained on human-generated data
and will likely more and more be trained on AI generated data.
Garbage in/out. Yes! I agree with that! But AI is a lot more than
LLMs which are just but a very small segment of AI.<br>
<br>
And then "Pipeline projects will stall because demand for petroleum
will fall. "<br>
<br>
I stopped reading.<br>
:-)<br>
<br>
Kindest regards,<br>
<br>
Olivier<br>
<br>
<br>
<div class="moz-cite-prefix">On 27/07/2026 13:50, Glenn McKnight via
Chapter-delegates wrote:<br>
</div>
<blockquote type="cite" cite="mid:CAN7+85d4oJi_6E4SG_jvqYHbsZ_E-TZ4NAZgB6of=q=vj+Z7ZQ@mail.gmail.com">
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<div>Here is an article by Cory Doctorow</div>
<div><a href="https://thetyee.ca/Culture/2026/07/24/Cory-Doctorow-Predicts-AI-Bubble-Will-Burst/" moz-do-not-send="true" class="moz-txt-link-freetext">https://thetyee.ca/Culture/2026/07/24/Cory-Doctorow-Predicts-AI-Bubble-Will-Burst/</a></div>
<div><br>
</div>
<div>If <span class="Asgive ng" style="border-style:none;background:none">interested</span>
you can buy the book on Amazon </div>
<div><a href="https://www.amazon.ca/Reverse-Centaurs-Guide-After-Intelligence-Before-ebook/dp/B0GBZFWCTT" moz-do-not-send="true" class="moz-txt-link-freetext">https://www.amazon.ca/Reverse-Centaurs-Guide-After-Intelligence-Before-ebook/dp/B0GBZFWCTT</a></div>
<div><br>
</div>
<div><br>
</div>
<div>
<div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature">
<div dir="ltr">
<div>Glenn McKnight, MA </div>
<div>Virtual School of Internet Governance </div>
Chief Information Officer
<div><a href="http://www.virtualsig.org" target="_blank" moz-do-not-send="true">www.virtualsig.org</a> </div>
<div><b>YOUR SOURCE FOR INTERNET GOVERNANCE EDUCATION </b></div>
<div><b><span class="Q6ibn ng" style="border-style:none;background:none">Mobile </span>
437-237-4655</b></div>
<div><br>
</div>
</div>
</div>
</div>
</div>
<br>
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