Ah, so you mean all the AI hardware companies that went bust when the software could operate on common workstation hardware (and couldn't or didn't pivot investment to software in that time)? I guess it is partially analogous - a couple trillion dollars invested in either hardware companies that require the more valuable frontier tools to remain computationally expensive, or require the intellectual property behind those tools to remain extremely valuable, for a solid 5-10 years in order to service their debts while turning profit.
Given how "cost per capability " is still exponentially decreasing and only needs to stay on trend for a few months longer before nobody needs to pay anyone more than a few cents a month for something close to general intelligence - I am with you there.
I just hope it isn't the USA's Darien Scheme. If the entire world basically gets what is now frontier AI capability for very little cost, at the US private equity and taxpayer's expense, and given the state of the US current account right now, then that is pretty much it for the Pax Americana.