Innovative Exuberance


How Tech Bubbles Accelerate Innovation

Visualization of the Internet

Is there a bubble in artificial intelligence? Are we in a virtual reality bubble? Are Uber and Airbnb overvalued? Or, are we even in another tech bubble?

Given the unprecedented valuations of the so-called “unicorns” — Uber is still valued at more than $60 billion, Airbnb at $25 billion, and Palantir at $20 billion — talk about bubbles has intensified in Silicon Valley. Bubbles are often considered to be negative: they are described as destructive, economically inefficient, and as generating financial waste. Indeed, almost $6 trillion evaporated after the dotcom collapse in the early 2000s, and the globalized financial system crashed when the financial bubble burst in 2008.

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Is Artificial Intelligence Really the Next Technological Revolution?


A comparison of AI with previous technological breakthroughs

Source: digicortex/YouTube

There’s no shortage of hype around artificial intelligence. Fueled by recent scientific advances in the field, AI is now characterized as the “new electricity”—a technological breakthrough that will revolutionize the world.

But are we sure that’s the case?

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