The article discusses the current state of the tech and AI industries, comparing the economics of AI companies to those of the oil industry, and explores the concept of an "industrial bubble" in the context of AI infrastructure investment. The author critiques the traditional tech playbook, suggesting that the high costs and uncertain payoffs of AI development resemble those of heavy industries rather than the previously golden economics of tech startups. Ultimately, the piece reflects on the implications of this shift in business dynamics.