Transcription
Eventually, a bubble has to collapse. Well, okay.
Well, today we have two bubbles. We have something called the private equity bubble, where private banks lend money to private companies. And people say it's $2 trillion. And it hasn't collapsed yet. Why? Because the private banks allow the private companies, who are losing money, to keep on going. These bubbles can keep on going forever. They don't have to collapse.
Another big bubble today is something called the AI bubble. These companies, Nvidia, OpenAI, when they their AI products don't actually make any money. Like ChatGPT does not make any money. In fact, it loses money every time you use it. Which means it's more expensive to run ChatGPT than it generates in revenue. But it's a huge bubble. These are just a few companies lending money to each other. It's a giant Ponzi scheme. It's an inside game.
So, bubbles don't have to collapse. They collapse when it's profitable for a few individuals to make it collapse.