Robin Wigglesworth on How AI Investment Echoes the 1800s Railroad Boom

The prosperity promised by railroads in the 1800s caused unprecedented investment in the United States that eventually led to the Panic of 1873, the steepest downturn in the US up to that point. The amount of capital being spent on AI today has some wondering if we are likewise in the midst of a bubble about to burst. But as the American experience with railroads shows, a technology can live up to all its hype and still cause a messy and painful adjustment along the way. In this episode, we talk with Robin Wigglesworth, editor of the FT’s Alphaville blog, about the frenzied investment that financed 19th century railroads, the amount of debt being issued by AI firms, and what the railroad boom (and bust) can teach us about the AI buildout’s potential winners and losers. For a chance to obtain a FREE copy of Robin’s new book, A Fabulous Debt: The Epic Story of How Bonds Built the Modern World, email simplyput@fhnfinancial.com with your name and address by September 25. Simply Put: Expert perspectives on the trends influencing fixed income, banking, and the macro landscape, hosted by FHN Financial’s Macro Strategist, Will Compernolle. Tune in to better understand what’s moving the markets and what to keep an eye on in the weeks and months ahead. Listen and subscribe wherever you get your podcasts.