Reflections on the arrangement of tech and the economy in light of AI
Once again, your observation is astute in highlighting the interconnectedness of various factors affecting the tech industry, from talent wars and institutional isomorphism to the hype surrounding AI. In particular, your point about the role of "imaginaries" in sustaining the upward trajectory of stock markets is worth noting.
For example, if we examine the stock prices of companies like NVIDIA and ASML, both of which benefit from the growing demand for AI hardware, we can see a stable and upward trend. Additionally, the commodities market for copper, silicon, and cobalt is also exhibiting interesting trends. London Metal Exchange is something to look at (https://en.wikipedia.org/wiki/London_Metal_Exchange) in this context.
One possible avenue of exploration is to examine the financialization of commodities to the hype surrounding AI. This could shed light on the implications of such financialization and its connection to AI.
I have been also exploring the war industry's involvement in AI, discussed here (https://sadnewsletter.substack.com/p/with-software-and-ai-on-our-side) -- another interesting avenue to explore.