[bitwize]

The AI bubble is almost exactly like Theranos. I honestly believe that Elizabeth Holmes believed in what she was doing, and that if she strung investors along for long enough, she could fund the development of her magical nanofluidic CGM on steroids. She didn't have the knowledge to pull it off, nor to know that everybody else was far from pulling it off, and she Dunning-Kruger'd herself into a situation where the jig was up and she was caught.

The difference is, with AI, it looks like they're really pulling it together and delivering something. For years it was "any minute now, this is gonna change everything, keep giving us money please" and it was all amusing but not-worth-the-hassle chatbots until recently, but Professor Harold Hill came through in the clutch and put together a band that can play something resembling music at the latest possible moment. And now we have agents that can do real work and the distinct possibility that the hermetic magicians might actually awaken their electronic god.