No the economy doesn’t tumble. All of the major public tech companies have real businesses that were profitable before AI and will be profitable after AI. All except Amazon are spending money out of their own revenues.

Businesses aren’t going to stop growing because of AI, the only public company really dependent on AI are NVidia and Oracle. Oracle because it is borrowing money to support build out for OpenAI.

Well, the Great Fiscal Crisis did not result in mass starvation, so in some sense, it "wasn't all that dramatic". But, it was a big deal in comparison to a normal downturn. So, it depends on what you mean.

Medium term, I think it would release a lot of resources (skilled workers, productive capacity, energy) to use on something more productive. But then, I kind of hoped for that after the GFC, also...

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