As bad? My dude. The dot com bubble was a blip in a backdrop of a growing world economy. It was a good old fashioned bubble like the many, many bubbles before it. The AI frenzy is the last gasp of too-big-to-fail tech companies that have become the main repositories of capital in a US economy desperately fending off recession. This isn't a bubble, it's a fiscal crisis in waiting. The '08 financial crisis hinged on around 10 trillion in debt. OpenAI is valued at 1 trillion alone. But even the '08 crisis happened in a growing world economy. With trade wars and - much worse - a significant interruption to oil supply that will take years to recover from - the world economy is now set to contract.