Understand this story
US Treasury Secretary Scott Bessent said at a private meeting in New York that he had not found "systemic problems" in the AI boom, playing down concerns that the AI industry could repeat the dot-com bust. He said "this is not Pets.com," and argued that the world's smartest people have put 99% of their net worth into these companies and founded some of the world's most profitable companies because they believe in AI. This statement is currently reported by a single source, with no subsequent developments of fact.
AI-generated from public reports
Developments
1 confirmed developments
US Treasury Secretary Bessent says no systemic problems found in AI boom
Source:IT Home · AI
Reports and discussion timeline
Browse reports and discussion by time. Their evidence levels remain distinct.
Oct 23
IT Home · Artificial Intelligence
US Treasury Secretary Bessent: The AI industry will not repeat the dot-com bust; I have not found "systemic problems"
US Treasury Secretary Scott Bessent said at a private meeting in New York that he has not found "systemic problems" in the AI boom, downplaying concerns that the AI industry will repeat the dot-com bust. He said, "This is not Pets.com," and argued that the world's smartest people have put 99% of their net worth into these companies and founded some of the world's most profitable companies, and they believe in AI.