Billionaire investor Ray Dalio said Wednesday that the current artificial intelligence boom follows the same historical pattern as past technology bubbles, arguing that “we are now in a bubble” while cautioning that the underlying innovation remains genuinely transformative.
‘The Miracle’ Versus ‘The Investment’
The Bridgewater Associates founder said in a post on X that nearly every technology boom produces a bubble and a bust, citing the railroads and the Industrial Revolution as prior examples.
He pointed to the late 1920s, when electricity, refrigeration, telephones, radio, airplanes, and cars all emerged around the same time, saying that kind of moment naturally draws investors in.
The danger, Dalio said, is that people fail to distinguish the miracle from the investment tied to it.
