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Dowd: "Investment Bubbles Are A Feature Of Capitalism, Not A Bug"

Dowd: "Investment Bubbles Are A Feature Of Capitalism, Not A Bug" Authored by Ed Dowd via Ed Dowd's Beyond The Narrative Substack, On Friday October 9th Bloomberg published an article titled "Jeffries' Chris Wood Sees 'Massive Capital Destruction' in AI." His view is that the most likely long-term outcome of the AI boom is massive capital destruction in the US, with market share shifting to cheaper open-source Chinese models. Wood has mostly got it right in my opinion except for two differences. My first difference is that Chinese models are not...
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Aug 27, 2026 / Tyler Durden
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