@nprofile1q... I feel compelled to clarify that this goes beyond AI. As Doctorow puts it, overvalued "growth" stocks can basically print cash to buy any industry they want, but they would drop dead on the moment that investors stop believing that tech companies are going to keep growing.

The state is basically the only place left on earth where they can expand into where budgets are big enough to make an upwards dent in their balance. Hence their suddenly found obsession with defense, space...