I think the problem with valuations is the never ending financial history of hypes. The hype is correlated with the technology or industry but follows its own s

I think the problem with valuations is the never ending financial history of hypes. The hype is correlated with the technology or industry but follows its own speculation hype. Even if the valuations and speculations are correct, they could be correct in years with ups and downs. If the dot com era is a good example it took half a decade or more to materialize. Other aspects that are not well studied yet is how online advertisement will be affected if most people around the world end up using a single interface such as ChatGPT. How SEO/SEM/Ads will work in that world? Does someone look at what sites benefit being listed in ChatGPT (e.g. Wikipedia).