Bloomberg Surveillance · Friday, July 10, 2026
Paul (Pelgo) likens the current stage of AI development to the year 1999, just before the dot-com bubble burst. He notes that while some express doubt about AI's future, similar skepticism existed for the internet, which ultimately delivered on its promises.
“Oh I love that question because I actually think we're probably in the equivalent of two thousand ninety nine. Things feel a bit frothy. People are starting to say, I don't know if this AI thing is going to be real. Think about ninety nine, two thousand people said the same thing. In one it was the death of the Internet. But yet twenty years later everything, almost everything that was promised actually became true. So I think we're in a similar stage of AI development.”