The Acquirers Podcast · Thursday, September 10, 2026
During the discussion, the speculative nature of different market eras was debated, with Zeke Ashton suggesting that today's AI market, while having companies with seemingly unlimited demand like Nvidia, has even larger numbers and potentially greater risk than the 2000 dot-com bubble. He pointed out that while 2000 was 'profitless speculation,' current AI companies have booming revenues, but their long-term sustainability remains a question.
“So, uh, Jake, uh, let's talk about this a little bit before we came on, but, uh, which market is more speculative, the 2000. .com market, 2021 meme stock, uh, or this AI market.”
“And just before you answer, there's this, uh, meme that does the rounds that says that the big difference between now and 2000 was that in 2000, it was like, uh, profitless speculation. Uh, whereas now, these companies have, you know, they've got Nvidia, for example, has, uh, sort of unlimited demand seemingly, and its revenues are rocketing up.”
“So, as you say, it's not too expensive on a trailing earnings basis.”