A veteran tech investor says 'doom and gloom' over the AI boom is overblown, even though it has shades of the dot-com bubble
Source: Business Insider ·
Paul Wick of Seligman Investments said the tech industry seems "healthier" today than during the Internet bubble, but flagged some trends to watch.
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Paul Wick is the CIO of Seligman Investments.12/08There are clear parallels between the AI boom and the dot-com bubble, tech investor Paul Wick says.But solid demand, strong earnings, and less mania make for a "healthier" backdrop, Wick said.Seligman's chief investor brushed off Michael Burry's worries but flagged some trends to watch.The AI boom has shades of the dot-com bubble, but fears of an imminent crash and mass unemployment are overblown, a veteran tech investor says.At the turn of this century, there was an explosion in dot-com startups being formed, and a huge infrastructure buildout with telecoms "aggressively" spending on wired and wireless networks, Paul Wick told Business Insider in an interview this week.The chief investor of Seligman Investments — a group within Columbia Threadneedle Investments that manages over $40 billion of assets and comprises a hedge fund, a mutual fund, and a venture capital arm — said there were clear parallels between that period and the…