I came across a rather interesting news this morning.

Sundar Pichai, the CEO of Alphabet, recently made a harsh statement in an interview: if the AI bubble really bursts, don't expect anyone to escape - including Google itself.

This sounds quite heart-wrenching. After all, everyone has seen how crazy AI has been these past two years, with valuations skyrocketing and capital frantically competing. More and more people are starting to ponder: could this be the next bubble waiting to burst?

Pichai himself acknowledged that this wave of AI investment is indeed a "remarkable moment," but the market is certainly mixed with "irrational factors." Sounds familiar? That's right, when Greenspan warned about the "irrational exuberance" of the internet in 1996, he said the same thing, and a few years later, the internet bubble burst.

He also drew an analogy with the internet: "Looking back at those years, there was definitely over-investment, but no one would deny that the internet changed the world. AI is probably the same - it has both rational parts and crazy elements."

The analysts on Wall Street are now in a heated debate, and more and more people are worried that AI will repeat the script of the internet bubble twenty years ago. A reporter asked Pichai what Google plans to do, and he said Google has a "full-stack" advantage—covering chips, data, models, and cutting-edge research, giving it stronger risk resistance.

But then he followed up with: "However, no company can be completely immune, and we are no exception."

To be honest, seeing this makes me want to laugh. Isn't the whole bubble just these capital giants stepping on each other to spiral up? Now, it's good, they're starting to play the victim: "If the bubble bursts, we'll all die together." Alright, can you share the money you made before with everyone?

That being said, the AI bubble serves as a warning for the crypto market as well. After all, many of the underlying logics are similar - speculating on concepts, expectations, and valuations, and in the end, it is always the retail investors who foot the bill. What does everyone think?