An LLM would tell you you are absolutely right and congratulate you on your insight.
30 seconds looking at the underlying financials then reflecting on the quality of your experience should be all it takes to see the truth.
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business models take time to materialize
LLM's just like "bLoCkChAiN" have a limited use case but hyped up investors are trying to shoehorn it in everywhere
Throw $1t at it and figure out how to profit later. That is some fiat AF thinking.
The internet was a real thing with real potential and value. Over-investment in the good ideas and malinvestment in the "they said internet we're sure to get rich" bad ideas still caused the dotcom bubble in an otherwise valid market.
If you can't see how it can be both a bubble and a valid useful long term market you haven't fully grasped how fiat easy money breaks markets yet.
Bingo. Easy fiat money thrown at every project that says AI in their presentation = bubble even if they are useful and have a future.