It's not that long IMO, it's been 2 years since Nvidia stock took off, and at that point OpenAI was valued between $29B and $86B (compared to $500B today), so I'd say we've entered bubbly territory around then.
Personally Im not surprised. Im bearish on the capabilities of LLMs given the amount invested, but, I also believe theres about 2 years left (of minimal progress relative to money invested) to go before things finally start to crater.
Uber was in the red for like 10 years, and burned 31B, and complaints of it popping were constant. But here we are with it still going and now profitable.
Forever, tech has become a never ending sequence of bubbles and hype cycles.
The duration of this hype-cycle/bubble has exceeded my expectations.
It's not that long IMO, it's been 2 years since Nvidia stock took off, and at that point OpenAI was valued between $29B and $86B (compared to $500B today), so I'd say we've entered bubbly territory around then.
Personally Im not surprised. Im bearish on the capabilities of LLMs given the amount invested, but, I also believe theres about 2 years left (of minimal progress relative to money invested) to go before things finally start to crater.
Follow cryptocurrency for a closer understanding of inebriated capital trying to chase the new thing.
As long as investors are willing to pay for it.
I can’t help but feel their push to go public is driven by their having milked the private markets dry.
Yes if their existing investors were seeing stuff that indicated they would create escape velocity, they would queue up to purchase more stock.
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Uber was in the red for like 10 years, and burned 31B, and complaints of it popping were constant. But here we are with it still going and now profitable.