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Tech is a sector not like every other – it’s an trade the place people can flip into billionaires in a single day, concepts supersede fundamentals, and leaders are rewarded for showmanship. In at present’s Silicon Valley, innovation is topped and never earned. Enterprise capitalists and founders are symbiotic. Unprofitable firms are stored alive with injections of capital, gamed valuations, and manufactured hype with the purpose of surviving lengthy sufficient to IPO.
Beginning within the early 2010s, Silicon Valley had championed large knowledge as a revolutionary know-how that would unearth deep insights, hidden patterns, and innovation from huge quantities of knowledge. But the market began to query within the early 2020s if any of those guarantees had even been actual as almost all client and SaaS startups had been nonetheless bleeding almost a decade later.
Out of nowhere, ChatGPT was launched and AI grew to become Silicon Valley’s subsequent large factor. Each tech firm is now an “AI firm”, each Fortune 500 wants an “AI technique”, VCs are solely investing in AI startups, and each product is an “AI” product. This can be a deep dive into how synthetic intelligence is simply the newest story spun by Silicon Valley to comb prior failed tendencies below the rug, preserve valuations excessive, and outlook constructive.
Earlier than AI, there was crypto, web3, blockchain, digital actuality, large knowledge, IoT, and wearables – all supposedly revolutionary applied sciences which have by no means lived as much as the hype. On this episode, we’ll dive into the market dynamics that push firms and people to leap headfirst into tech tendencies, how this all began with large knowledge, and why AI is finally simply one other pump-and-dump.
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0:00 Fashionable Silicon Valley
6:42 Sponsor Break (Kajabi)
8:29 Submit Dot-Com Beginnings
17:22 Information-Pushed FOMO
28:19 Shovel Economics
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