Renowned Apple investor Alan Patricof is sounding the alarm bells, cautioning that the world is on the verge of an artificial intelligence (AI) bubble.
In a recent interview, Patricof expressed concerns about the rapid proliferation of AI startups and the exuberance surrounding the technology.
Patricof, a veteran venture capitalist, believes that while AI has immense potential, the hype surrounding it has led to excessive valuations and unrealistic expectations. He points to the numerous AI companies that have received staggering amounts of funding in recent years, often without a clear path to profitability.
“We’ve seen this before with the dot-com bubble in the late ’90s,” Patricof warned. “Investors are pouring money into AI startups without fully understanding the risks and challenges these companies face.”
While AI has made significant advancements in various industries, from healthcare to finance, Patricof argues that the current euphoria may lead to a reckoning. He suggests that investors should exercise caution and conduct thorough due diligence before diving into the AI market.
In a rapidly evolving landscape, Patricof’s words serve as a reminder that not all AI companies will achieve the same level of success. The key lies in identifying startups with genuine potential and a viable business model.
Wall Street traders are increasingly confident the Federal Reserve will cut rates next week.
Fresh inflation data has showed prices edging higher but growth slowing, and with jobs, markets, and political pressure all in focus, the Fed’s decision could be pivotal for the economy.
In Short:
– Federal authorities are investigating the shooting of Charlie Kirk, who was killed at Utah Valley University.
– A manhunt for the actual shooter is underway; two men have been questioned and released without charges.
Federal authorities are investigating the shooting of conservative influencer Charlie Kirk, who was killed while speaking at Utah Valley University.
The incident occurred around 12:20 PM when Kirk was shot in the neck, leading to a chaotic scene as attendees fled. Kirk, a father of two, died shortly after being taken to a local hospital.Investigators believe the shooter fired from a building approximately 200 yards away.
During the aftermath, two men, one of whom claimed to have fired the shot, were taken into custody but later released without charges. A manhunt is ongoing for the actual shooter.
Utah Governor Spencer Cox stated that those responsible will be held accountable, outlining the state’s commitment to justice.
President Donald Trump condemned the political climate surrounding Kirk’s death, blaming extreme rhetoric and violence.
In a statement, he remembered Kirk as a patriot who advocated for open debate. Following the incident, vigils were held nationwide, and classes at the university have been cancelled.
Ongoing Investigation
As investigations continue, American flags will fly at half-staff until Sunday in honour of Kirk.
“I want to be very clear that this is a political assassination,” Utah Governor Spencer Cox, a Republican, told a news conference.
“And I just want to remind people that we still have the death penalty here in the state of Utah.
The Utah Department of Public Safety said that its State Crime Lab was “working with multiple active crime scenes”.
“These were identified based on where the victim was shot, as well as the locations where the suspect and victim travelled,” a department statement said.
“The shooting is believed to be a targeted attack. The shooter is believed to have fired from the roof of a building down to the location of the public event in the student courtyard.”
Eyewitness account
Attendee Tiana Lao said the shooting came as a shock in what otherwise felt like an= normal event.
“We didn’t realise it was real at first and then everyone began rushing out, shouting to get down in panic and distress,” she told ABC News.
“People were excited. There were some opponents like there usually are at these events … but they were peaceful, so this was a total shock.”
Conservative activist Charlie Kirk assassinated at Utah university, leaving a significant void in U.S. conservative politics. #BreakingNews
Conservative activist Charlie Kirk has been assassinated while speaking at a Utah university, sparking shock and grief across America.
Known as the founder of Turning Point USA, Kirk became a leading voice in the MAGA movement, shaping conservative youth politics and energising Donald Trump’s base.
His sudden death leaves a major void in the U.S. conservative landscape.