Michael Burry says the seemingly unassailable positivity around AI reminds him of the dot-com and housing bubbles — and warns the mania could have far more devastating consequences than Enron’s collapse.
A subscriber to Burry’s Substack told him in a chat thread this week that it felt like “we are witnessing a massive coordinated effort to prop up the narrative.”
Burry replied: “That is how it felt in May of 2007 when the Fed Chair was saying there would be no contagion or a couple years earlier when he said there is no such thing as a housing bubble.”
“Or in 1Q2000 when every tech was showing crazy strong revenue growth selling to each other…
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