I agree with you.. but we're also seeing a lot of money get thrown at things which will ultimately be - Redundant due to winner takes all dynamics. - Useless -

I agree with you.. but we're also seeing a lot of money get thrown at things which will ultimately be - Redundant due to winner takes all dynamics. - Useless - Way to expensive for what it does. - Produced off of sky-high seed rounds at 150 MM. This same dynamic happened with the www leading to an eventual crash - the mobile and social versions would have been more noticeable had it not happened in private markets and simultaneously with the valuation spike of the late teens. It would be almost more surprising if there wasn't a pull back eventually. This also doesn't say anything about the people who work in AI. It's not a given that the legions of research scientists populating corporate labs will be the right people for new startups. Similarly it may turn out that prompt engineering is the dominant method for talking to LLMs rather than code.