# Here's How The AI Bubble Bursts — With Paul Kedrosky

Page: https://stenobird.com/podcast/big-technology-podcast-197340/here-s-how-the-ai-bubble-bursts-with-paul-kedrosky
Text version: https://stenobird.com/podcast/big-technology-podcast-197340/here-s-how-the-ai-bubble-bursts-with-paul-kedrosky.md
Podcast: [Big Technology Podcast](https://stenobird.com/podcast/big-technology-podcast-197340)
Published: 2026-08-12T10:00:00+00:00
Episode link: https://pdst.fm/e/tracking.swap.fm/track/t7yC0rGPUqahTF4et8YD/pscrb.fm/rss/p/traffic.megaphone.fm/AMPP8482873564.mp3
Audio file: https://pdst.fm/e/tracking.swap.fm/track/t7yC0rGPUqahTF4et8YD/pscrb.fm/rss/p/traffic.megaphone.fm/AMPP8482873564.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/big-technology-podcast-197340/episodes/here-s-how-the-ai-bubble-bursts-with-paul-kedrosky
Duration seconds: 4024

## Resource

Paul Kedrosky is an investor, analyst, and writer who studies technology, markets, and the forces shaping the global economy. Kedrosky joins Big Technology Podcast to discuss why he believes the historic surge in AI infrastructure spending has created a bubble that could soon unravel. Tune in to hear why rapidly falling token prices, constant hardware upgrades, and increasingly debt-funded data centers may make it extraordinarily difficult for investors to earn adequate returns. We also cover whether OpenAI and Anthropic can move up the software stack, what might cause the investment cycle to collapse, China’s competing approach, and what AI could look like after the bubble bursts. Hit play for a clear-eyed debate about whether transformative technology can still produce a disastrous investment cycle. --- Enjoying Big Technology Podcast? Please rate us five stars ⭐⭐⭐⭐⭐ in your podcast app of choice. Watch the full documentary here: https://www.gravitee.io/ai-agent-documentary Want a discount for Big Technology on Substack + Discord? Here’s 25% off for the first year: https://www.bigtechnology.com/subscribe?coupon=0843016b Stop online threats before they become real-world attacks. Visit ironwall.com/BIGTECHNOLOGY and request a free Risk Assessment to see exactly how exposed your executives are. Learn more about your ad choices. Visit megaphone.fm/adchoices

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/big-technology-podcast-197340/episodes/here-s-how-the-ai-bubble-bursts-with-paul-kedrosky/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/big-technology-podcast-197340/here-s-how-the-ai-bubble-bursts-with-paul-kedrosky.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.