AI Bubble Risk: Lessons from Dot-Com. Comparing Today's Elevated AI Valuations with Historical Technology Bubbles

The reader will learn to identify the classic phases of a speculative technology bubble using the Minsky framework and the quantitative indicators that have preceded every major correction since 1987. They will understand in detail how the dot-com bubble developed, the overinvestment cycle in fiber optics, the social media boom, and the three major bull cycles of the cryptocurrency market, extracting from each episode patterns applicable to the present moment. They will master the valuation analysis of artificial intelligence companies through price-to-earnings, price-to-sales, and enterprise value to EBITDA multiples, with data updated to 2024 and historical comparisons that place current levels in their real context.

This book is especially useful for individual investors with portfolios exposed to technology, for financial analysts who need to communicate valuation risks with empirical basis, and for any professional making capital allocation decisions in an environment dominated by the artificial intelligence narrative. This is not a prediction manual or a catastrophist argument: it is a methodical guide to distinguishing legitimate enthusiasm from irrational euphoria, protecting wealth accumulated during speculative peaks, and positioning oneself wisely ahead of the recovery that historically follows every major technology correction.

Finances 360 - Ed. 2026 | Miguel A. Muñoz

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