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October 6, 2025

Tech bubbles? Yes, please (so long as they’re productive)

Innovation occurs when investors ditch efficiency and spread their bets

John Thornhill

4 min read

Is the European tech sector blowing bubbles again? Yes, but that may be no bad thing. Investors are almost certainly getting overly excited about the immediate promise of AI and the prospects for defence tech startups. That means some deals might get done at crazy prices and a lot of money will be burned. 

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John Thornhill

John Thornhill is Sifted’s editorial director and cofounder. He is also innovation editor of the Financial Times, and tweets from @johnthornhillft

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