It’s not about how much you earn. It’s about what you’re worth. And who’s worth the most? Companies that lose money. Pinterest, Snapchat, no revenue. Amazon has lost money for every fucking quarter for the last 20 fucking years, and that Jeff Bezos is the king. Russ Hanneman in the HBO fictional series Silicon Valley.

The photograph above is of my first car on California Highway 395. In my car log, now lost on a hard drive on a computer I will never use again, I described it as A 1948 Pontiac 4-door sedan: faded blue with chrome stripes on the hood and an Indianhead hood ornament that lit up; powered by a flathead straight 8. It was my maternal grandmother’s car that I was asked to buy (for $300) when she got too old to drive. She had covered the seats with thick plastic seat covers, so when I got the car, it was an 8-year-old beater with new gray wool – derogatorily called mouse fur – seats. About this time, I started camping, and this car did many uncomplaining miles on dirt roads. The car had a good life. It eventually died on a dirt road near Longs Peak, Colorado, while being driven by the second owner after me. He, fittingly in my opinion, left it by the side of the road to exfoliate back into the earth.

I don’t remember ever taking this car this far south on 395, though. I also don’t remember the Velociraptors, but it was a long time ago, and I didn’t take the picture. I did, however, make it, or at least direct Gemini to make it. And the fact that an 85-year-old, computer-illiterate person can do this in about 15 minutes surprises me. Even more surprising is that this is just the start of the AI revolution, maybe iPhone 2 level. It is still early enough in the cycle that anything seems possible, and the stock market reflects that.

Just before Christmas, I heard the tail end of a speech by Representative Alexandria Ocasio-Cortez – more commonly known as AOC – on November 18, 2025, during a House Oversight and Investigations Subcommittee hearing. AOC said we are probably in an AI bubble and that, when that bubble pops, the Government shouldn’t bail out Wall Street or AI companies. My first reaction was surprise that she knows so much about both AI and the Stock Market since I know so little about either. About a month later, I had lunch with a friend who pays close attention to the Market, and he felt the Market was acting strangely.

It led me to rethink AOC’s speech and credentials. I knew she graduated from Boston University in 2011; what I didn’t know or forgot was that she graduated summa cum laude with a double major in Economics and International Relations. I also went back and listened to earlier parts of AOC’s speech.

AOC said there is an AI bubble that poses a significant threat to the U.S. economy. She pointed out that 40% of U.S. economic growth and 80% of stock gains in 2025 were attributed to just seven major tech companies. Many of these companies, including OpenAI, Anthropic, the creator of Claude, and xAI, Elon Musk’s AI company, among other AI companies, have yet to turn a profit and might never make a profit. She argued that their current valuations are based on “promises” rather than actual returns and warned that the broader economy’s exposure to this single, unproven sector creates a massive stability risk.

A couple of days ago, I read in the Washington Post that Michael Burry, the fund manager made famous in the book and movie The Big Short, is now saying he thinks we are in an AI bubble, so I’m convinced we are all in for an AI shock. I’m also convinced that Russ Hanneman, quoted at the top, is right, even though he is not real.