When the music stops: the unravelling of AI companies’ flawed valuations

Public and private market investors have indiscriminately been attributing huge premiums to AI companies, and the party continues — the music is still playing and people are still dancing. But when the music stops, investors will scramble for assets in a frantic game of musical chairs. 

We have seen this all before. As with the dot com bubble, the long-term potential of the technology is massive; the over-valuations are just part of the initial hype. Right now, we’re already slipping...