Ed Zitron already completely defeated the comparison that this is just another dot com boom/bust with eventual payout. You're telling yourself a just-so story.
> Ed Zitron already completely defeated the comparison that this is just another dot com boom/bust with eventual payout
"This time it's different" is a story told by people at both extremes.
"There is unsustainable excess and malinvestment but it's not going to be the end of the world and there will be some really important and successful things that are left standing alongside some carnage" is a narrative that doesn't appeal to the masses for a variety of reasons. And people like Zitron, who profit by selling narratives, often avoid narratives that require nuance and balance because it forces them to produce more complex and detailed, and less bombastic, analyses.
Yeah, I think Ed's early stuff defeated the idea that the tech was worth big money at its state as of 2024, but it's clear in 2026 that this is something worth money to corporations. Just a question of how much + whether the Chinese open models (RIP Llama) can continue undercutting at a fast follow pace.
"This time it's different" is a story told by people at both extremes.
"There is unsustainable excess and malinvestment but it's not going to be the end of the world and there will be some really important and successful things that are left standing alongside some carnage" is a narrative that doesn't appeal to the masses for a variety of reasons. And people like Zitron, who profit by selling narratives, often avoid narratives that require nuance and balance because it forces them to produce more complex and detailed, and less bombastic, analyses.