[mazurnification]

"the old economy had changed forever and was dead."

Ehem - what is the difference compered to now? Wasn't programmers obsolete by 6mths ago and nobody would work so we do need UBI?

However your point that if everybody are thinking there is buble there is none is valid. Ironically your whole post undermine this point. And you are not alone in your analysis. General bubble wisdom is not settled as one might think.

Plus famous Alan Greenspan "irrational exuberance" was in 1996. And AFAIK in 1999 everybody know there is buble but it busted only in 2000. On top of that I have seen overlying plots of stock prices now and before dot com suggesting there is 1-2 years of increases still to go.

[squidbeak]

> Ehem - what is the difference compered to now? Wasn't programmers obsolete by 6mths ago and nobody would work so we do need UBI?

You're applying an arbitrary time constraint to the realization of AI's promise in order to rubbish it. This is a logical mistake common among critics: not yet, so never. It doesn't seem as if there is a near limit to the tech's development. Until that changes, the potential for job wipeouts and societal upheaval is real, whether in 5 or 50 years.

[mazurnification]

Sorry but that was not my point. My point was refuting of the thesis (in the comment that I am replying to) that nobody was making grand claims about AI contrary to grand claims about internet pre dot com. Obviously in both cases there were/are grand claims made.