I worry that it is not a valid perspective and that the bubble dynamics are being driven exactly by this sentiment.
We are pricing in the hollywood version of AI we don't have as if it is the internet.
I communicated with people exactly like what I am doing right now in this post on usenet in 1995. Message boards by 1997. The internet bubble wasn't based on some wild virtual reality version of the internet that hadn't been invented yet.
It is a categorically different process at work here. This bubble is far more insane and speculative since we don't have what we are pricing in. We don't even really know what we are pricing in besides some vague notation of an inevitable "AGI".
We are pricing in the hollywood version of AI we don't have as if it is the internet.
I communicated with people exactly like what I am doing right now in this post on usenet in 1995. Message boards by 1997. The internet bubble wasn't based on some wild virtual reality version of the internet that hadn't been invented yet.
It is a categorically different process at work here. This bubble is far more insane and speculative since we don't have what we are pricing in. We don't even really know what we are pricing in besides some vague notation of an inevitable "AGI".