{
  "id": 16315530,
  "title": "A veteran tech investor says 'doom and gloom' over the AI boom is overblown, even though it has shades of the dot-com bubble",
  "url": "https://urgent.news/2026/10/24/a-veteran-tech-investor-says-doom-and-gloom-over-the-ai-boom-is",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-24T10:38:01.000Z",
  "source": {
    "name": "Business Insider",
    "slug": "business-insider",
    "url": "https://www.businessinsider.com/ai-boom-dotcom-bubble-paul-wick-nvidia-chips-burry-careers-2026-10"
  },
  "original_language": "en",
  "account": "Paul Wick, the CIO of Seligman Investments, argues that concerns over an impending AI crash and mass unemployment are overstated. The tech investor points out similarities between the AI boom and the dot-com bubble of the early 2000s, but asserts that current conditions are healthier. Wick attributes this to robust demand, solid earnings, and a lack of mania. He dismissed Michael Burry's warnings about aggressive accounting, hidden debt, and overinvestment in depreciating assets. Wick also noted that Nvidia, a key player in the AI sector, remains extraordinarily profitable. While he questioned whether Nvidia should focus solely on buybacks, he emphasized the company's financial strength. Wick cautioned that worries about AI obliterating jobs for humans are premature, as the full impact of AI on labor markets remains uncertain. He suggested that learning a trade could be a more practical route for young people in the AI era, as there is high demand for skilled workers like electricians and HVAC technicians.",
  "summary": "Paul Wick of Seligman Investments said the tech industry seems \"healthier\" today than during the Internet bubble, but flagged some trends to watch.",
  "key_points": [
    "Paul Wick, CIO of Seligman Investments, says AI doom and gloom is overblown",
    "Wick draws parallels between AI boom and dot-com bubble, but sees healthier conditions",
    "Nvidia remains profitable, but Wick questions focus on buybacks"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}