'Big Short' investor Michael Burry says AI is turning Big Tech into a worse business

Michael Burry, the investor made famous by "The Big Short," says the era of Big Tech turning relatively small investments into huge profits is ending. And he says AI is to blame.In a recent Substack exchange with tech podcaster Dwarkesh Patel, Burry said the most important metric AI industry investors should be watching isn't revenue growth, hiring, or even market size, but return on invested capital, or ROIC. ROIC is a measure of how efficiently a company turns the money it puts into its business into pr ...