“The Big Short” investor Michael Burry has launched a paid Substack newsletter following the closure of his hedge-fund business, continuing to criticise the tech stocks behind the AI boom.
Burry emphasises he is not retired, and that his new blog, titled Cassandra Unchained, now has his full attention. He has previously said that managing money professionally carries regulatory and compliance constraints which limited his ability to communicate.
Burry draws parallels in his newsletter between today’s AI-investment surge and the dot-com era, describing as the Cisco of the boom, and warning of “supply-side gluttony” driving an unsustainable wave of infrastructure spending.
He names the five public “horsemen” of the current AI era as being Microsoft, Google, Meta, Amazon and Oracle, noting that they are joined by several startups promising nearly $3tn in AI infrastructure investment over the next three years.
