Bezos: AI is a "good bubble"; even if stock prices crash like Amazon did in 2000, it's still good for society.

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Amazon founder Jeff Bezos believes that the current investment boom in artificial intelligence (AI) is a "good bubble." He thinks that even if this bubble eventually bursts like the internet bubble of 2000 and causes a collapse in stock prices, the long-term benefits it brings to society will be enormous.

At the same event, Goldman Sachs CEO David Solomon expressed a more cautious view from Wall Street’s perspective, warning that the massive capital being invested in the AI sector may not yield returns.

Bezos: AI is an "industrial bubble," society will benefit from the invention

Bezos's core view is that the current AI craze should be regarded as an "industrial bubble," rather than a purely "financial bubble."

He explained that financial bubbles like the banking crisis of 2008 bring “only harm” to society, but even when industrial bubbles burst, they can leave behind valuable legacies.

Citing history, Bezos gave two examples: first, the large-scale investment in fiber-optic cables during the internet bubble, which remained after the bubble burst and laid the foundation for later internet development; second, during the biotechnology boom of the 1990s, although many companies failed, a number of "life-saving drugs" eventually emerged.

Speaking of the similarities between the internet bubble and the current AI boom, Bezos recalled that at the time, Amazon’s stock price plummeted from $113 to $6 "in a very short time." Employees were nervous and investors were worried. Even though it caused a stir back then, he believed that Amazon’s stock price was already "disconnected" from the actual state of the company’s business, and the business itself remained strong during that period.

Commenting on the current AI investment boom, Bezos admitted that in today’s frenzy, it’s difficult for investors to distinguish between "good ideas and bad ideas," leading to almost every project getting funding. But he emphasized, "That doesn’t mean what’s happening isn’t real. AI is real, and it will transform every industry."

He added:

"We don’t know exactly how long it will take to achieve this, but it does really exist."

Goldman Sachs CEO: A large amount of capital invested in AI may not yield returns

At the same event, Goldman Sachs CEO David Solomon gave a more cautious opinion.

Solomon also acknowledged AI’s enormous potential to boost productivity, calling it "very exciting," and he predicted "AI will change the way business is done globally." However, as the head of a top investment bank, he also warned that the current huge amounts of capital invested in AI may "ultimately fail to deliver returns."

Even so, Solomon did not explicitly define the current market situation as a "bubble." He told the audience that he was "not smart enough" to know whether a bubble had already formed. He drew an analogy with the market in 1998: people were asking the same questions back then, but the market continued to rise for another three years. Solomon added:

"We are at the beginning of the movie, not the end...

If we see a market correction in the next 12 to 24 months, I would not be surprised, but given the run we’ve already had, such a situation would not be unexpected either."

Risk Warning and DisclaimerThe market has risks, investment needs caution. This article does not constitute personal investment advice, nor does it take into account the individual user’s special investment objectives, financial situation, or needs. Users should consider whether any opinions, views, or conclusions in this article fit their particular circumstances. Invest at your own risk. ```