I don't think companies like Nvidia, OpenAI, Microsoft, Apple, Google, Meta are in a bubble. They're making real profits or they are foundational. Likewise, I don't think S&P500 companies who are adopting LLMs in a big way are in a bubble.
I do think startups with multi-billion dollar valuations but mostly relying on OpenAI/Claude are in a bubble. There's no reason a company like Windsurf was worth $3b or Cursor should have $10b.
I realize this is suspicious tin-hat in a can but it makes me wonder what he and OpenAI have to gain by him saying this? Does he feel they got their nut and now it’s time to undermine the ability of other AI companies to raise money?
In the article he specifically shitcans AI startups that were founded by former OpenAI execs, but also he has a habit of characterizing AI as something that needs expert hands, mainly his, to manage and contain. At the end of the article he delivers on this self-aggrandizement.
The leadership of the big AI companies have made some pretty extreme promises on timelines and capabilities. I wonder he’s changing his tune because he’s worried investors will sue him once the man behind the curtain is revealed.
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[ 3.3 ms ] story [ 18.8 ms ] threadI do think startups with multi-billion dollar valuations but mostly relying on OpenAI/Claude are in a bubble. There's no reason a company like Windsurf was worth $3b or Cursor should have $10b.