Sam Altman, CEO of OpenAI, warns that the current AI investment frenzy mirrors historical technology bubbles, where initial excitement and genuine breakthroughs lead to unsustainable speculation and inevitable crashes. Historical parallels with the Railway Mania and the dot-com bubble illustrate how excessive optimism and leverage can result in financial disaster, despite the underlying technological advancements. The article emphasizes that while bubbles burst, they often leave behind valuable infrastructure that supports future growth.

The current American economy, shaped under Donald Trump's leadership, resembles a casino where speculation and risk dominate over sound investment in manufacturing and infrastructure. With a focus on technology and social media-driven markets, both public and private sectors are engaging in high-stakes gambles that threaten economic stability, while essential safety nets are increasingly undermined.