Some argue that even if the current AI boom leads to an overbuild, it might not be a bad thing – just as the dotcom bubble left behind the internet infrastructure that powered later decades of growth. It’s a tempting comparison, but the parallels only go so far. The dotcom era’s overbuild created durable, open infrastructure – fibre networks and interconnects built on open standards like TCP/IP and HTTP. Those systems had multi-decade lifespans and could be reused for whatever came next. Much of...