Michael Burry, the investor known for betting against the housing market before the 2008 crash, has warned about the social consequences of the AI boom. In a Substack post, he said he was "righteously indignant over the wealth transfer to the very few that these bubbles create." Burry pointed to mechanisms including circular financing among tech companies and schemes from Washington DC as drivers of extreme enrichment for a lucky few. He added that much of the economy is existentially worried about groceries.
Related Articles
Don't miss out on breaking stories and in-depth articles.