You can actually predict bubbles, especially ones this obvious. Everyone who wants to know how should read A Short History of Financial Euphoria by John Kenneth Galbraith.

Yes, it’s dry.

Yes, it’s 30 years old.

But it gives a tidy little checklist of “is this a bubble?” and AI has been checking every one off like a to do list. Just like NFTs and ponzicoin did before it.

You can also read This Time Is Different: Eight Centuries of Financial Folly by Carmen Reinhart and Kenneth Rogoff. It's on bookshop.org and, of course, on the Evil Empire website. It's all in the title, which is an ironic quoting of people who say what bubble-istas always say - what AI people are saying right now.

I'm seriously worried for my country who has decided (through the government investment corporation) to pour 30 billion dollars into an AI company: https://www.gic.com.sg/uploads/2026/02/GIC-Leads-Series-G-in-Anthropic.pdf

And this is laughable: https://www.straitstimes.com/singapore/budget-2026-workers-to-get-help-building-practical-ai-capabilities-starting-with-accountancy-and-law

@glasspalacesstoneshop you asked me how Singapore is like. Heres a glimpse of it unfortunately