Had a meeting with my financial advisor yesterday, and I expressed concern about how much of my mutual fund is tied up in stocks, particularly tech stocks, because of the AI bubble. He pointed out that one big difference between this bubble and the dot-com bubble of the late '90s is that, back then, you had pretty much nothing but startups funded by debt that never turned a profit, so even if you had a diversified portfolio you were left with maybe one or two companies that hadn't gone completely bankrupt by the end. Whereas this time around, most of the big players are established companies with other revenue streams that aren't going anywhere any time soon.
So the bad news is that Bill Gates is probably not going to lose his shirt. But the good news is, neither am I.