Robert Peston interviews Andrew Ross Sorkin about his book "1929" and draws parallels between the economic conditions leading up to the 1929 crash and the current AI boom. They discuss the role of debt and leverage in both periods, potential risks associated with vendor financing and private credit in the AI sector, and the possibility of government intervention. They also explore the lasting political damage of the 2008 financial crisis, the concentration of economic growth in the US due to AI spending, and the cultural differences between the US and Europe that contribute to innovation and risk-taking.
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