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It's also interesting how when you look at the websites for the new wave of AI B2B SaaS startups, most of the customers they list are other AI B2B SaaS startups. It makes me wonder how much of the "AI industry" is just startups sending VC money back and forth to each other.

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Probably a large part of it, honestly. I was just talking with someone the other day about how the whole cloud economy for the past 15 years may have been grossly exaggerated by very loud VC backed companies flooding the internet with blog posts like this one. The big behemoths - hospitals, governments, law offices, manufacturers - those people tend to run a lot of local tech for various reasons. And they’re also the most quiet when it comes to the internet.

That sounds like "working as intended." The main selling points of the cloud are liquidity and accessibility. VC-backed startups are basically the target demographic.

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