[throwaway42668]

It's okay to say it. It's a bubble.

It was just the next in line to be inflated after crypto.

[superluserdo]

I wouldn't write it off as a bubble, since that usually implies little to no underlying worth. Even if no future technical progress is made, it has still taken a permanent and growing chunk of the use case for conventional web search, which is an $X00bn business.

[thegeomaster]

A bubble doesn't necessarily imply no underlying worth. The dot-com bubble hit legendary proportions, and the same underlying technology (the Internet) now underpins the whole civilization. There is clearly something there, but a bubble has inflated the expectations beyond reason, and the deflation will not be kind on any player still left playing (in the sense of AI winter), not even the actually-valuable companies that found profitable niches.

[KaiserPro]

I mean OpenAI is a bubble, if it pops, its big enough to take the rest of tech with it.

[throwaway42668]

Alternatively, it might make capital available to other things.

It's at least theoretically possible that all the liquidity and leverage in the top of the market could tire itself of chasing the next tulip mania.

For instance, $6 Billion could have gone into climate tech instead of ElizaX.

My problem with these dumb hype cycles is all the other stuff that gets starved in their wake.