### Gail Stewart-Iles

Gail Stewart-Iles

[4 subscribers](https://substack.com/@gailstewartiles/subscribers)

### Activity

#### [Gail Stewart-Iles](https://substack.com/@gailstewartiles) liked

[George Hicks](https://substack.com/@gth2)

**3h**

Replying to [ReadItAll](https://substack.com/@readitallnow/note/c-281828543)  
It’s hard not to think of how Wiley Coyote can keep running for a while after going over the edge of the cliff. The value of all crypto is about 1.8 $tr. The ballpark debt and equity of all companies on NYSE and NASDAQ is 90 $tr and 90 $tr. So crypto is 1% of that 180 $tr total. It could easily go to zero without doing any real harm.

The role of the Roadrunner is played by the investment banking industry, and it’s the real value of that 180 $tr that’s the issue.

#### [Gail Stewart-Iles](https://substack.com/@gailstewartiles) liked

[ReadItAll](https://substack.com/@readitallnow)

**4h**

Replying to [Paul Krugman](https://substack.com/@paulkrugman/note/p-203306855)  
This point made by Paul is spot on, that this is not so much about AI bubble bursting because there is nothing there--there *are* some interesting applications of it.

Instead, this moment proves that our "Masters of the Universe" in Silicon Valley gambled wrong, on believing that AI could only be effective with massive compute--with huge sprawling datacenters churning away--while China has been building what we ought to have pursued: smart, smaller, more efficient models and targeted use applications.

#### [Gail Stewart-Iles](https://substack.com/@gailstewartiles) liked

[ISOequanimity](https://substack.com/@isoequanimity) **5h**  
Replying to [Paul Krugman](https://substack.com/@paulkrugman/note/p-203306855)  
Thank you, Professors Krugman and Wells, for posting today, not because you have the time and energy to do it but because of your compassion and commitment to your readers. We’re raw and overwhelmed and your explanations of the way things are help us see things more clearly. That’s the first step towards rebuilding the country we were promised 400 years ago. I’m updating to include stickers and a link to an awesome photo, since sending happy notes was my very favorite task as a guidance counselor. 🙏🏅🏫 [witnessla.com/paul-krug…](https://witnessla.com/paul-krugman-wins-the-nobel-in-economics/)