Would an artificial-intelligence bubble be so bad?
A new book by Byrne Hobart and Tobias Huber argues there are advantages to financial mania
A little over a decade ago Seth Klarman, a hedge-fund titan, worried that an asset-price bubble was emerging. He identified Tesla as one of the firms best exemplifying exuberance in the market. At the time, Elon Musk’s electric-vehicle company was worth around $30bn. Today its stockmarket value is $1.3trn.
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This article appeared in the Finance & economics section of the print edition under the headline “The merits of mania”
From the January 4th 2025 edition
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