Deepfakes, Big Tech, and the Coming AI Crash?

The David McWilliams Podcast

David McWilliams

News & Politics

4.5 • 693 Ratings

🗓️ 11 September 2025

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

AI investment is exploding: the “Magnificent Seven” of Apple, Microsoft, Google, Amazon, Meta, Tesla, and NVIDIA, are ploughing almost 7% of US GDP into AI and data centres. That’s the same scale as the US housing boom in 2006, and greater than the dot-com bubble at its peak. Today, just seven firms make up 34% of the S&P 500, the highest concentration in history. Earnings per share in these companies grew 37% last year, compared to just 6% in the rest of the index. But history warns us, RCA in the 1920s, dot-coms in the 1990s, that transformative technologies can change the world while destroying fortunes. The question now: is AI the next revolution, or the next bubble waiting to burst?

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Transcript

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0:00.0	Just a reminder, dear listener, if you were going to Electric Picnic,
0:03.8	John and I are doing a live podcast in Mind Field,
0:09.2	5 o'clock Friday the 29th in the middle of a field in County Leash,
0:14.7	live podcast.
0:15.7	We will talk to you and see you there.
0:17.5	It'd be a home dinger.
0:22.5	Hey, it's Adam Grant from Worklife, a podcast from TED.
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1:00.2	You can buy a house, but you can't buy home.
1:05.7	You can be surrounded and still be alone.
1:09.6	Introducing the man, the myth, the legend.
1:13.6	Mr. John Batiste, everyone.
1:15.9	Hello, my new album, Big Money, is out right now.
1:20.9	Mama said, boy, don't you be no dummy, everybody chasing that big big money big money how you understand the economy how How you doing there?
1:44.6	It is time for the podcast, and we're going to start the podcast with a little warning.
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