If the AI Industry Fails, It Could Take the Rest of Us Down With It
Don't let AI critics tell you it's good for nothing: the amount of money being spent on AI infrastructure is so enormous that it’s literally propping up the US economy. The drawback, of course, is that if the AI industry fails, it could drag the rest of the economy down with it. In 2024, the S&P 500 grew by an incredible 24 percent — what the investment firm Charles Schwab understatedly called a "very good year." Since 2023, nearly half the growth was clustered in just a handful of tech stocks