The main difference I see is that blockchain and nfts never really made a huge splash in large corporations. Now we have the S&P 500 dominated primarily by tech companies that are dumping billions into AI and telling investors it will turn all their fantasies into reality. I don’t remember bitcoin ever motivating this level of institutional bedlam.
When those tech companies fail to breakeven on their ai initiatives, I think the deflating of the ai bubble may just trigger a major recession. Look at any target year retirement fund and Microsoft, Amazon, Meta, Alphabet, NVidia, Apple are all insanely large portions of the fund holdings.
I personally think all those companies have enough cash and revenues (not tied to “AI” pitches) that we don’t have to worry about a US recession (with consequences for the the rest of us), but I could be wrong.
But one does wonder what happened to (US) corporate governance laws where such actions can be taken with no worry.
