AI Bear Case: What Skeptics Get Right And Wrong
The AI "bear case" isn't one argument; it's three. Burry on earnings. Bernstein on circular financing. MIT on revenue. Two are half right. One falls apart on the data. Michael Burry broke a two-year silence on November 11 to accuse the world's largest technology companies of cooking their books, calling it one of the more common frauds of the modern era. That got attention, and it should. When the man who shorted the housing bubble says AI earnings are fake, you listen. But the AI bear case that has hardened over the past six months isn't one argument. It's three. And when you pull them…
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