I know zero about finance other than being constantly crushed under the jackboot of capital so here’s my opinion: It will happen, won’t actually be too bad,l; it will just make it clear that we are I. A recession and this in turn will be used as another excuse for layoffs and worker control measures. Lots of startups won’t be able to raise another round of funding and the founders will move on to whatever the next fraud is. The companies who have been building those awful gpu centers will rent out capacity to mine crypto while spinning up another NFT type way to cheat people.

There will be massive consolidation, OpenAI and Anthropoic will get acquired by monopolies who keep it closed source, and the gvt will sign off on it because it no longer releasing models keeps the tech away from the Chinese.

The upside will be that they will stop shoehorning ai into the app for your smart basketball or whatever.