Economist Paul Krugman contacted me recently and asked me to come on his popular Substack and talk about all things AI and capex. We recorded the discussion last week, and it's already out.
It was a lovely chat, and the Nobel-winner is a terrific host. As ever, I also drive-by made the case that while we are likely to overspend on data centers, similarly to what happened with railroads and electrification—albeit with a wilder depreciation overlay—that is not the same thing as saying AI is a fad or foolish. History is a useful guide, here.
Enjoy. And thank you again to Paul for having me as a guest.