While I don’t want to get too deep on causation vs correlation, the history from 59–89 is rife with interesting parallels. Did we hit the limits of technology (as many argue), the budget (which never runs out in govt any other time), or motivation (which speaks to competition but also the former two)? It is an odd case. Most people believe govt moderates markets, but here I see markets likely moderating govt. Deep learning is becoming profitable, I don’t see another winter arriving soon.