Here’s a quick warning for Harrisburg, City Hall, and Main Street. If you think your budgets are challenged now, get ready: The AI crash is coming.

Many an observer has dismissed the idea of yet another tech crash and offered the hopeful claim that “this time is different!” But an AI correction is inevitable.

Will it be this year, or next? It’s impossible to say, since the stock market routinely stays irrational for longer than seems possible. As a friend who lost his shirt short-selling high-flying internet stocks in the late 1990s said: “The market can stay crazy for longer than you can fund your short.”

I have no doubt that generative AI will be revolutionary, just not in the short time frame that bandwagoners believe. Technological revolutions — like the internet itself — are known

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