Harvard Business Review: How People Are Really Using AI in 2026 (Wow, is this depressing and worrisome.)

[pat_k]

5. Since the U.S. economy is an all-in bet on AI (with the felon quadrupling down with our tax dollars) we are screwed.

How Does the End Begin?

https://www.profgalloway.com/how-does-the-end-begin/

The top 10 stocks in the S&P 500 account for 40% of the index’s market cap. Since ChatGPT launched in November 2022, AI-related stocks have registered 75% of S&P 500 returns, 80% of earnings growth, and 90% of capital spending growth. Meanwhile, AI investments accounted for nearly 92% of the U.S. GDP growth this year. Without those AI investments, Harvard economist Jason Furman noted, growth would be flat. As Ruchir Sharma concluded in the Financial Times, “America is now one big bet on AI,” adding, “AI better deliver for the U.S., or its economy and markets will lose the one leg they are now standing on.” This concentration creates fragility, and how the end begins becomes more visible.
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Add the "all-in" bet to an economy that relies spending by the wealthiest -- people who can cut back ENORMOUSLY if things start going south -- and our economy is more fragile than a house of cards.