The political economy of the dot-com bubble reflected neoliberalism at full tilt, as the state retreated from the technology sector and private capital flooded in. …
Today’s accelerationist MAGA-AI boom is different. The initial spark is technological, but the state is now applying accelerant liberally. … The sums involved now dwarf the dot-com era.

What the history of tech bubbles can tell us about AI
https://www.euractiv.com/opinion/what-the-history-of-tech-bubbles-can-tell-us-about-ai/
#ai

Marks and Spencer (M&S) has terminated a key IT contract with long-time partner Tata Consultancy Services (TCS), months after a devastating cyberattack hit the retailer.

The move follows a major hack on M&S in April, which forced the retailer to suspend online orders and resulted in bare shelves, with the total hit to operating profits expected to reach £300 million this year.

Die Stabstelle für Cybersecurity im Bundeskanzleramt verwies später auf weiteren „internationalen Abstimmungsbedarf" und Arbeit am Gesetzesentwurf.

Innenminister Gerhard Karner (ÖVP) sprach im September von „intensiven Gesprächen mit der Opposition", nannte aber keinen konkreten Zeitplan.

Im Regierungsprogramm wird die Umsetzung von NIS 2 mit keiner Silbe erwähnt.

Im Büro von Digitalisierungsstaatssekretär Alexander Pröll im Bundeskanzleramt erklärt man sich für nicht zuständig. Auf der Hilfeseite des Bundes ist das Bundeskanzleramt als "strategische NIS-Behörde" angeführt, es ist also durchaus eine gewisse Zuständigkeit anzunehmen.

Dennoch verweist man auf das Innenministerium. Dort ist nämlich die "operative NIS-Behörde" zu Hause. Auf Nachfrage bestätigt man dort, dass über die genaue Ausgestaltung des Gesetzestextes verhandelt werde. Noch befinde man sich in der "finalen Verhandlungsphase der Koalitionspartner". Demnach wird also noch regierungsintern verhandelt.

Some bubbles leave nothing or next-to-nothing behind. Enron left nothing behind but the cooling corpse of a CEO who popped his clogs before he could be sentenced to life in prison. Worldcom left behind a CEO who survived long enough to die behind bars…and a ton of fiber in the ground that people are still getting use out of….

Crypto’s not going to leave much behind: a few Rust programmers who’ve really taken security by design to heart, sure, but mostly it’ll be shitty Austrian economics and even shittier JPEGs.

So what kind of bubble is AI? That’s the $2 trillion question:

You don’t need to be an AI investor to get wiped out by the AI investment bubble, either. With 30+% of the S&P 500 tied up in seven AI companies’ stock, the coming crash will definitely escape containment and crash the whole damned economy.

So the bubble is bad. Really bad. But even so, there will be things we can salvage from it: open source models, skilled programmers, cheap GPUs bought out of bankruptcy for pennies on the dollar.

The tender, published a day earlier by the Commission’s IT department DG DIGIT, introduces a new “sovereignty score” formula to assess cloud providers’ compliance with EU rules. The score weighs multiple factors, including whether services are hosted within EU jurisdiction, exposed to foreign laws such as the US Cloud Act, or able to maintain operations in the event of foreign sanctions.

The moral of this story is that we can achieve positive outcomes for workers and the public interest as AI transforms governance, but it requires two things: electing leaders who legitimately represent and act on behalf of the public interest and increasing transparency in how the government deploys technology.

Agencies need to implement technologies under ethical frameworks, enforced by independent inspectors and backed by law. Public scrutiny helps bind present and future governments to their application in the public interest and to ward against corruption.

These are not new ideas and are the very guardrails that Trump, Musk and DOGE have steamrolled over the past six months.

Being an Apple customer is like being in a 24/7 BDSM relationship…without a safe-word. Maybe you like the control Apple exerts over your life most of the time, but if they ever start to hurt you, there’s no way to make them stop