$ cat ./records/gates-says-were-in-an-ai-bubble-but-no-tulip-mania-2025.txt
Gates says we're in an AI bubble — but 'no tulip mania'
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In December 2025 Bill Gates said the world is in an AI bubble — but a nuanced one. Speaking on CNBC, Gates argued that 'AI is only a bubble in the sense that not all of these valuations will end up going up; some of them will go down,' predicting the industry will be 'hyper competitive' and that 'a reasonable percentage of those companies won't be worth that much.' At the same time he called AI 'a deeply profound technology that will reshape the world,' explicitly distinguishing the moment from the 1630s Dutch 'tulip mania.' His comments added a measured voice to debates about whether AI valuations had run ahead of reality.
Source: https://www.cnbc.com/2025/12/09/bill-gates-on-why-ai-will-become-hyper-competitive.html
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