AI

Cyclical Exuberance

In Irrational Exuberance, Nobel prize winner Robert Shiller chronicled how markets fall in love with their own stories. Prices climb not on fundamentals but on faith, the collective conviction that the future will be brighter simply because everyone believes it will be. For Shiller, this was not just a technical problem of valuation, it was a psychological drama in which optimism becomes a kind of mass hallucination.The late 1990s provided his perfect case study: the dot-com bubble. Companies with little more than a website and a slogan were valued in the billions. Venture capital poured into anything ending with “.com.”...

AI Development

Software As A "T-Shirt"

In the current wave of software production, AI-guided methods promise speed, scale, and the seductive idea of near-zero marginal cost. The result, many observers note, resembles the output of a budget T-shirt factory tucked away in a developing region where labor is cheap and quality control is an afterthought. This new breed of software is sometimes branded as agile, sometimes as prompt-driven, and sometimes simply as disposable. Its appeal lies in how easily a product can be spun up, pivoted, and discarded, much like last season’s clothing dropped into a charity bin. Critics, including many who welcome technological progress, ask...