There will be a small amount of startup winners (OpenAI, Perplexity, Midjourney, Stability, Mistral, etc) enriching the big tech incumbents (Microsoft, Meta, Ap

There will be a small amount of startup winners (OpenAI, Perplexity, Midjourney, Stability, Mistral, etc) enriching the big tech incumbents (Microsoft, Meta, Apple, Nvidia) and a sea of overhyped companies struggling in the long term over this so-called “AGI” nonsense. “AGI” was just another obvious narrative to part VCs from their money to build more highly unprofitable startups once again. OpenAI being the ring-leader in this and executing this hype with an overvaluation of $100B for investors to purchase shares at that valuation. This is even before much larger risks such as the competition catching up quickly (Yes they are), mounting lawsuits and the costs / difficulty of training new models. Reminds me of the Stripe hype with its valuation crashing more than 50% from the peak of $95B. Same with Klarna from the top of $45B with an 80% correction and I bet that Clubhouse is due for a >80% devaulation from $4B. At least Midjourney was bootstrapped by the founders and making $200M+ without involving VCs with a small team. So I guess that justifies a much higher valuation >$10B and I assume it is also highly profitable.