Yes the railroad was a bubble. A ton of people lost money in that investment.

Amazon was a bubble, it lost 92% value when it popped.

Bubbles don't create wealth, i agree

The housing bubble lost people a ton of money that that investment, and people also lost their pensions when the Bible popped.

A bubble is when people start heavily investing in a product to the point it's a losing bet because that sector doesn't need the money, or can't produce the returns bubble investors are looking for. So when the AI bubble pops a lot of people will lose money, but the product will be here to stay because of the investment.

My point is that when a bubble pops the product is here forever, where most people think a Bible popping is the product is a failure and will disappear.