On November 2, Howard Marks, Co-Chairman of Oaktree Capital, said that recent setbacks in AI-related market performance have partly shattered the market's myth that the AI industry "can never go wrong." In a memo last year, Marks noted that he was closely monitoring for market bubbles, and he believes that people beginning to reflect and maintain a skeptical attitude is "very healthy." These remarks come as investors' tolerance for tech companies is waning: although these companies are making hefty bets on AI, their core businesses are showing signs of cooling. Recent earnings from Alphabet and Amazon have intensified market concerns—AI investments are eroding the original businesses that fund these investments. Marks published a memo titled "bubble.com" in January 2000 warning of the internet bubble, which burst shortly afterward.