I see that Derek Thompson has reversed course on the current AI buildout, arguing we are underbuilt for ... something. Again,I don't think AI itself is a bubble, just that we will vastly overbuild.

My response to DT:

We always underbuild GPTs (railroads, fiber, etc) until we overbuild. The demand signal he points to is largely endogenous—coding agents—not an external market clearing price.

https://x.com/DKThomp/status/2019484169915572452