For most of the last week I’d been preparing an article on the financial insanity of the AI industry and the unrealistic market values that demonstrated this. The timing seemed appropriate given that Anthropic was preparing to go public later this month with the largest IPO in world history, seeking to value that five-year-old, massively money-losing start-up at $2 trillion.
My deep AI financial skepticism seemed further validated towards the end of the week. On Thursday, the earnings reported by Google-parent Alphabet were less than expected, partly due to the huge drag of the company’s AI capital spending. Investors punished the Tech giant by shaving a half-trillion dollars off its market value, leading to major headlines in the Friday Wall Street Journal.
Read Full Article: https://www.lewrockwell.com/2026/11/ron-unz/a-delusional-president-with-insane-military-plans/
