But of course, every company needs to slap AI on their product now just to be seen as a viable product.
Personally, I look forward to seeing the bubble burst and being left with a more rational view of AI and what it can (and can not) do.
Every company seems to be putting all their eggs in the AI basket. And that is causing basic usability and feature work to be neglected. Nobody cares because they are betting that AI agents will replace all that. But it won't and meanwhile everything else about these products will stagnate.
It's a disasterous strategy and when it comes crashing down and the layoffs start, every CEO will get a pass on leading this failure because they were just doing what everyone else is doing.
The challenge is the rest of the industry funding dead companies with billions of dollars on the off chance they replicate OpenAI’s success.
Some other company, that doesn't have a giant pile of debt will then pick up the pieces and make some money though. Once we dig out of the resulting market crash.
Some marginal investors know this but they are okay because the music is still playing - but when they think its time to leave the bubble will pop.
People seem to forget that its not about whether or not its actually a bubble, its really about when will certain people who set these stock prices for valuations, decide its time to exit and take their profit.
Uber and Amazon are really bad examples. Who was Amazons competition? Nobody. By the time anyone woke up and took them seriously it was too late.
Uber only had to contend with Lyft and a few other less funded firms. Less funded being a really important thing to consider. Not to mention the easy access to immense amounts of funding Uber had.
(Like those people that casually assume that everyone has a therapist or a lawyer.)
it was making money off those idea at the valuations expected that was problem.
the Internet really did revolutionize things, in substantial ways, but not to the tune of millions of dollars for pets.com
The difference now is that this is all (or mostly) idle cash being invested. The massive warchests built up by FAANG over the last decade are finally being deployed meaningfully rather than sitting in bonds or buying back stock. Much different scenario than companies with non-viable business models going IPO on a wish and a dream.
Will the contagion be limited to a few companies, or will the S&P crumble under the bubble's collapse?
And everybody used them.
Nowdays everybody see them as useless.
Not web chat rooms.
Discord is not.
Chats did not evolve to social media.
Facebook is a descendant of hotornot not icq or chats.
Ws was seen as free sms.
AI is more useful than social media. This is not financial advice, but I lean more toward not a bubble.
Communication is a fundamental human need.
Generating slop isn't.