Is AI a Bubble? | Gavin Baker on Data Centers, GPUs, and the AI Economy
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Are we in an AI bubble?
I do not believe we're in an AI bubble today. I was, depending on how you look at it, the privilege and the misfortune of being a tech investor during the year two thousand bubble, which was really a telecom bubble. And I think it's really helpful to compare and contrast today to the year 2000. The year two thousand internet bubble or telecom bubble was defined by something called dark fiber. At the peak, 97% of the fiber that had been laid was dark. Contrast that with today. There are no dark GPUs.
The headlines change. The underlying questions don't. As AI investment continues to reshape the technology landscape, founders and investors are still grappling with the same core issues. Are we building too much infrastructure? How durable are today's economics? And where will the long term value accrue? David George sits down with Atreus Management's Gavin Baker to unpack the AI pool, from GPUs and data centers to frontier models, software, and robotics. Whether you're an investor, founder, or simply trying to understand where AI is headed, this conversation offers a thoughtful framework for
And that brings us to our opening fireside chat. We're gonna start with a taboo question right out of the gate. Are you ready for it? If AI is the biggest trend in the world right now, where is the evidence for it? Why is it only just beginning to show up in the economy? And as Andre Karpathy asked, are agents really just ghosts? To kick this off and to help us answer this question, please join us in welcoming Gavin Baker, managing partner and CIO of Atreides. Now some of you may know Gavin as that really thoughtful guy on Twitter. Anytime some big piece of AI news comes out, I know more than
Who knows what that music was from?
Glad to get our pump up music right.
Yes. Battlestar Galactica, the original nineteen seventy seven one, in case we have to all fight Cylons in a few years.
Yeah. Good segue into the topic, I guess. So thank you for being here. I always love talking to you.
Same. Really grateful to you for inviting me, grateful to your colleagues for having me here. I really look forward to the next two days. I think I'm gonna learn a lot, so thank you.
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