Dispatch
Viral Analysis: 'How the AI Bubble Bursts' — The Spending Siege Thesis Hits 367 Points on HN
A blog post arguing that the AI bubble bursts via a 'spending siege' mechanism hit 367 points and 504 comments on Hacker News. The thesis: Big Tech doesn't need to win — it just needs to outspend competitors into unsustainable funding cycles. With Mag 7 planning $680B in capex, Gulf investor capital drying up due to geopolitical conflict, and energy costs at multi-year highs, AI labs face simultaneous pressure on revenue (metered pricing 5x subscription costs) and costs (locked into expensive long-term contracts).
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