Analyst who called the dotcom bubble says Americans are turning a deaf ear to AI warnings—and a worse meltdown than 2008 looms

Still, Edwards insists that the current parallels to the late 1990s Nasdaq bubble are clear: extremely rich valuations in tech, with some U.S. companies trading at over 30x forward earnings, justified by compelling growth narratives. Just as the TMT (technology, media, telecom) sector attracted vast, sometimes wasted capital investment in the 1990s, Edwards argued that today’s enthusiasm echoes that earlier era. There are two key differences that could lead to a much worse outcome this time, though.As he hi ...