I think you are describing quite accurately what happened in 2008, but I don't think the parallel is as strong as you claim it is.
> Downstream party D has no visibility that the specific uncertainty emanating from party A upstream is 100% correlated with their own risks
I'm not aware of anything like that happening right now. Do you have any examples?yeah it's approaching the point where all risk is that AI is a bubble, and everyone is exposed to it. It's not exactly hidden, and it's not easy to escape either.
"Hidden"
I have an example. Greater than 90% of knowledge workers in tech now are required and expected to use AI. If they aren't, their job prospects are at high risk.
That's an exposure in the Party A-Party D frame is it not?