In times of funding plenty the valley is awash with companies that are basically faking it. This was very common in the previous valley bubbles, the Real-Intel

In times of funding plenty the valley is awash with companies that are basically faking it. This was very common in the previous valley bubbles, the Real-Intelligence-Masquerading-As-Artificial thing is just one in a long line of semi-frauds that the valley tends to accumulate. In the 90s the flood of B2B companies was as crazy as the current flood of AI companies. This will pass when funding gets tight again and/or the economy enters a recession. A very sharp recession is actually good for the valley because it helps clean out the fakers; it's no different than the first cold snap in the winter helping clear away certain pests. (One takeaway from this is that if one wants to found a startup, and one is not a fraud, it's actually better in almost every way to do so in the first part of a recession: lower salaries, less grass-is-greener attrition, lower real estate costs, etc.)