California gold rush is practically the textbook example of a mania.

Gold, tulips, real estate, rail, witch hunts, satanic panic..

We shouldn't be worried because "this time it is different".

"AI" is none of those things. It is "totally different this time". "AI" is going to do all the work for us, we are all going to get UBI then at some point as it grows the "ASI" is going to either figure out how to grant us immortality or cause mass human genocide.

It is all completely rational this time.