Just How Bad Would an AI Bubble Be?

I think what many people are missing is that everybody values AI companies as if they're special, when I'm seeing customers approach it as a commodity - once a task is done it's done. It has about as much lock-in as a brand of toilet paper, and the economics more like steel production than VPS' or social media.

There are some qualitative differences, but none that seems to last for more than 6 months. On the flip side, the costs are energy & location. Scaling won't bring that down.

In a twist of irony, big tech might structurally reduce their high profit margins because of AI.

I'm bullish on AI, and competition is great for consumers in the end.

But first the bubble has to pop, and it is going to hurt.