DIGITAL FEUDALISM. A "CALL TO ARMS" AGAINST AI

PATRICK BOYLE: https://www.youtube.com/watch?v=NbL7yZCF-6Q. AI'S CIRCULAR FINANCING

What’s driving the concern
A surge in investment by big tech into AI infrastructure (data-centers, chips, software), with spending growing rapidly in recent years.
PBS
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Reuters
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Many investors and analysts believe valuations of AI-related companies are unusually high relative to current revenue or proven business models. For example, the survey by BofA Global Research found ~54 % of fund managers believe AI stocks are in a bubble.
Reuters
Some echo the comparison to prior tech booms (e.g., dot-com, telecom in the 1990s) — major build-outs driven by promise rather than proven demand.