Dave Collum: The AI Bubble Will Break Down VERY Quickly

VRIC MediaThursday, August 13, 2026

Show Notes

Dave Collum, professor at Cornell University, argues that today’s market is not facing a single speculative excess but multiple bubbles stacked on top of one another. He explains why he believes the AI boom could unravel quickly, why platinum remains one of his preferred commodity trades, and why gold continues to play a major role in his portfolio. Collum also discusses the possibility of a more hawkish Federal Reserve, the relationship between interest rates and housing affordability, and why decades of cheap money could ultimately end in a painful economic reset.

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0:00 Multiple bubbles are stacking up

2:43 Why the AI boom could break quickly

7:13 Could AI starve the rest of the economy of capital?

11:31 Why Dave is bullish on platinum

15:03 Gold, silver, and Dave’s portfolio strategy

16:30 Why he started buying gold in the 1990s

23:25 How high could gold ultimately go?

25:10 Why Kevin Warsh could be “Volcker 2.0”

29:53 Higher rates, housing, and the next generation

33:22 Why homebuilders may already see trouble coming

37:57 How credit booms end in deflationary busts

43:14 Could AI IPOs mark the market peak?

45:27 Politics, Iran, and America’s changing global position

51:11 How Dave thinks investors should prepare

54:50 Dave’s next annual outlook