Thousands of CEOs report that AI has not significantly impacted employment or productivity. This situation has led economists to revisit a productivity paradox first noted by Robert Solow in 1987, which observed a slowdown in productivity growth despite advancements in technology.

American tech companies are experiencing significant layoffs, with Oracle cutting thousands of jobs and Block reducing its workforce by over 4,000 roles. Major firms like Amazon and Meta have also announced redundancies, leading to minimal payroll growth among the largest tech companies from 2022 to 2025.

Tech valuations have returned to levels seen before the AI boom, indicating a shift in market perception. Factors contributing to this decline include changing investor sentiment and broader economic conditions.

The scenario explores the potential consequences of continued AI advancements leading to a global intelligence crisis by 2028. It examines the implications of AI optimism turning into pessimism within financial history.