VCs mostly make money by selling a narrative about investing in the next big thing and then collecting management fees, not by beating the market. If the public

VCs mostly make money by selling a narrative about investing in the next big thing and then collecting management fees, not by beating the market. If the public sours on AI we need a new hype to replace it and keep tech money flowing at the same rate. A lot of funding seems to follow fads and be disproportionate to value generated (I remember when there were a bazillion people building social networks because that was hot).