Per Slok, 87% of VC funding is directed at AI, 49% of investment grade bond issuance is AI, and 38% of high yield bond issuance is linked to AI.
During the internet boom, in 1999, less than 40% of VC funding was linked to internet companies.
Broadening to the wider tech-media-telecom (TMT) bubble, in 1999, VC funding for TMT hit 80% of all funding. TMT bonds were 40-50% of the high yield bond issuance in 2000 and 25-30% of total investment grade bond issuance.
Over $100B investment grade debt issued in 1999-2000 became junk by 2002.
High yield debt at 38% today vs 40%-50% back then belies the idea that today’s AI debt issuance is cleaner, backed by more profitable companies today.
Elon just endorsed it.
Gad Saad dropped the hammer on Fox this morning.
We now live in a world where:
- Rape victims get less sympathy than their rapists
- Homeowners get less than the squatters breaking in
- American vets get less than illegal migrants
- Repeat felons with 186 charges get 200 more “chances” because “society made them do it”
This isn’t kindness.
This is suicidal empathy.
Universities spent decades teaching our judges, leaders, and elites that personal agency is a myth if you check the right oppression boxes. So criminals become victims, victims become bigots for complaining, and the whole system rots from the inside.