They also doubled down on blockchain sufficiently late in the game that it was obvious to most that there was zero value in all of it.
Either they’re really getting high on their own supply, or there’s some kind of model where you hedge against missing out on a unicorn, even if all indicators point to the fact it’s vaporware.
To me I see a lot of similarities to cloud computing early on (broadly defined). There were a lot of twists and turns in the road and a lot of things didn't tuen out as many predicted--and it was, naturally, much messier than earlier visions. But companies that decided to sit back and see how things played out mostly paid for it while the winners--so far--have mostly been companies that made bets and course-corrected.
There is no comparison at all to AI which is fundamentally untrustworthy and may remain so for a while/ever.
Don’t know if that is accidental or the trajectory we are on.