the market mood around AI is starting to rhyme with the dot-com era, but this piece argues the actual companies are in a very different place than the bubble-era wrecks everyone remembers.
I buy the “rhymes but not repeats” take — dot-com had a ton of companies with basically no revenue, and right now the leaders are printing real cash. The part that still feels bubble-y is how much of the index mood is riding on a handful of names, so even “good companies” can get dragged around by sentiment.
