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I expected something to happen around the AI hype after the US elections. I didn’t expect it to happen so soon. Too early to tell yaddah yaddah, and the hype could very well continue for another few months, but did any AI-related stock ever tumble before now?
Silicon Valley exists in its own reality bubble. Hell, the entire US tech scene inhabits in a bubble whose main feature is relentless self-flagellation. Apparently they’re all Guilty and will be Punished. (Then again, the US is fundamentally a Calvinist country.) Sanity prevails only outside the US. Sometimes.
For now I’ll stick to my idea: the Valley is creating something with the appeal of a 19th-century factory, complete with oppressed and estranged workers, without delivering the sole benefit of such factories: cheaper IT and other services. They want to get rid of the middle classes whose salaries they have to pay so badly that they forgot to create an appealing product.
