If, after N years, everything settles and the dust clears, this cycle of the market will surely be written into history.

But how will those who come after define it? I don’t know.

Maybe it will be like the “Age of Discovery” after the 15th century: humankind sailing into unknown seas, opening up new continents, new routes, and new trade networks. In today’s digital world, isn’t it just another new continent? Data and intelligence—like spices, silver, and sea routes in the past—are reshaping global connections, and also redistributing wealth and power.

Maybe it will be like the “Scientific Revolution” of the 17th century: telescopes, laboratories, and the language of mathematics, shattering the certainty of the old world. Today’s AI is also breaking through the boundaries of old knowledge systems, making search, creation, research, education, healthcare, and finance all possible again—rewritten, once more.

Maybe it will be like the “Enlightenment” of the 18th century: reason, knowledge, and institutions began to spread, and individuals for the first time in large numbers realized they could understand the world and remake it. Today’s large models may be turning knowledge from a wall guarded by a few into a tool for more people—helping ordinary people, for the first time, get close to “enhanced intelligence.”

Maybe it will be like the “Industrial Revolution” of the 19th century: the steam engine becomes AI, factories become algorithms, coal and steel become computing power and data. Productivity will leap forward; organizational forms will be restructured; work will be redefined—and society will inevitably go through pains: bubbles, unemployment, polarization, and then rebalancing.

Maybe it will be like the “Internet Age” at the end of the 20th century: it started as a bubble—frenzy and fever—with countless companies going under;

But you remember it—you remember it!

After the bubble burst, what remained was new infrastructure, new business models, and a new global order. Today, standing at the early stage of AI, maybe what we’re seeing is the noise of valuations—but what truly matters is that the underlying paradigm is changing.

Throughout history, every real golden age didn’t just arrive out of nowhere.

They begin with openness, are made possible by breakthroughs, and thrive on risk—and they must inevitably come with a cost.

The commotion of 2020 may not have been the endpoint, but the roar before a turning point; today’s volatility may not be an illusion, but the pains before a new order is born.

We are standing in the middle of the wave.

Some people only see the bubble; some have already seen the infrastructure.

Some only watch prices; some already understand productivity.

Some are waiting for certainty; some are betting on the new era.

The so-called “era” never begins after the dust settles.

It starts with a few people who see the direction, takes shape as the many are forced to adapt, and finally gets written into history—becoming the “so that’s how it was” spoken by those who come later.

If the Age of Discovery opened up the world, the Scientific Revolution rewrote cognition, the Enlightenment awakened the individual, the Industrial Revolution reshaped production, and the Internet Age connected the globe—

Then the AI era may be doing the same thing:

reconstructing knowledge, reshaping production, rewriting wealth, and rearranging the order.

No matter whether there’s a bubble or not—since the era has already reached this point, remember one line: the biggest thing God arranged for us is that it’s fate!

—A sudden realization, sending it to everyone!