Party Like It’s 1999?

Generative AI has created a gold rush today, but that rush has not yet grown into either a productivity boom or a financial bubble. There are good reasons to think this rush could become either one. Some productivity gains seems likely, but the emergence of a financial bubble is more difficult to predict. Do today's conditions resemble those that created a bubble in the late 1990s? We consider a few crucial similarities and differences between the dot-com boom and telecom bubble of the late 1990s and the recent experience with generative AI