“When I see a bubble forming I rush in to buy, adding fuel to the fire. That is not irrational.”
– George Soros, 2009
I’ve spent 25 years watching, trading and investing in the stock market. The repetition of patterns is amazing. In every generation we see new bubbles, which form when a new innovation comes along and everyone gets excited about the future. The crowd gets swept away on a wave of madness, fueled by the recent gains they’ve seen for themselves (or for others) and all other considerations go out the window. Get me in, I don’t care how, I can’t miss out on this.
In December, ChatGPT began to spread like wildfire on social media. A handful of art-related AI programs like DALL-E 2 also began to proliferate on Instagram and some of the more image-oriented sites, but ChatGPT captured the imaginations (and nightmares) of the chattering class
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