Other booms don’t necessarily cause contraction in the rest of the economy. That’s what the bar graph is showing, it isn’t just showing that there’s a lot of data center construction, it’s showing that construction of everything else is falling.
It definitely might be a new thing, though, because AI doesn’t actually create value. In other resource booms, oil or lithium or whatever, there’s a real material thing being sold for profit. With AI, there aren’t even any profits. It’s just gobbling investment.
Other booms don’t necessarily cause contraction in the rest of the economy. That’s what the bar graph is showing, it isn’t just showing that there’s a lot of data center construction, it’s showing that construction of everything else is falling.
It definitely might be a new thing, though, because AI doesn’t actually create value. In other resource booms, oil or lithium or whatever, there’s a real material thing being sold for profit. With AI, there aren’t even any profits. It’s just gobbling investment.
It’s definitely strange.
What definition of value are you using?
Does it matter? It’s unprofitable.