The loudest critics of new technology are often right about the bubble — and completely wrong about the future.
Open any news app today and you’ll hear two stories about artificial intelligence at once. One says AI is the future and will change everything. The other says it’s a giant bubble that’s about to pop. Both sides sound completely certain. So how do you know who to believe?
Here’s a trick that works surprisingly well: when you can’t tell who’s right, look at history. Because we have, in fact, been here before. Almost 180 years ago, an entire country lost its mind over a brand-new technology. People called it a mania, a bubble, and pure hype. It would create world peace. And here’s the fascinating part — they were partly right. But they were also spectacularly wrong. That technology was the railway, and the telegraph line that accompanied each line, and it went on to reshape the entire world.
The Story of “Railway Mania”
In the 1840s, Britain fell in love with the steam train. For the very first time in human history, people and goods could travel faster than a galloping horse. A trip that once took days now took hours. To people back then, it genuinely felt like magic.

