--- Gary Shilling, according to QuoteInvestigator, August 2011
QI's bottom line
In conclusion, this saying appeared in print by the 1986 and was closely associated with the financial analyst A. Gary Shilling. Based on current evidence it is likely that Shilling crafted of this apothegm. The evidence linking the quote to Keynes is very weak, and may be due to confusion with another saying attributed to Keynes as mentioned above.
I was reminded of this saying by the October 16, 2026 edition of the Snacks <hello@snacks.robinhood.com> newsletter. In an analysis of Coreweave's wild week, Watl Hickey writes for Snacks
THE TAKEAWAY
The unique cultures of Silicon Valley and Wall Street have been in general alignment that the AI boom is going to make a lot of people a lot of money. But before we get cocky, it’s worth remembering two axioms held as truth in either camp that apply very well:
- From the West coast: the future is already here — it's just not very evenly distributed.
- From the East coast: markets can remain irrational longer than you can remain solvent.
The AI boom’s benefits to shareholders will not necessarily be evenly distributed. . . .
