Both a phone and a tablet can come with WhatsApp, it's a user choice whether they are there and the frequency of checking them. Global muting the apps is also an option.

I understand your point, but it is a point mitigated by user intervention. Now, if we want to say reading on a bigger screen than a phone is a better user experience, I'm on board with that.

When Anthropic spends on xAI, it benefits Google. When google spends on xAI, it benefits Google. When xAI spends on Google, believe it or not, that benefits Google.

This is how a Ponzi -style circular financing scheme typically works.

What point are you making?

There are also legitimate companies from the dotcom bubble era like amazon, microsoft, and intel. They all were vastly overpriced during the dotcom era. Probably also now lol.

* LLMs are useful

* Company valuations around LLMs are not realistic

Both can be true, much like they were during the Dotcom bubble. The internet turned out to be a pretty real thing. A couple examples below might feel familiar in the next couple months/years.

> Blucora (then InfoSpace): Founded by Naveen Jain, at its peak its market cap was $31 billion and was the largest Internet business in the American Northwest. In March 2000, its stock price reached $1,305 per share, but by 2002 the price had declined to $2.

> Broadcast.com: A streaming media website that was acquired by Yahoo! for $5.9 billion in stock, making Mark Cuban and Todd Wagner multi-billionaires. The site is now defunct.

> eToys.com: An online toy retailer whose stock price hit a high of $84.35 per share in October 1999. In February 2001, it filed for bankruptcy with $247 million in debt. It was acquired by KB Toys, which later also filed for bankruptcy.

> GeoCities: Founded by David Bohnett, it was acquired by Yahoo! for $3.57 billion in January 1999[20] and was shut down in 2009.

> MicroStrategy: After rising from $7 to as high as $333 in a year, its shares lost $140, or 62%, on March 20, 2000, following the announcement of a financial restatement for the previous two years by founder Michael J. Saylor.

** Some scams transcend time **

Great link: https://en.wikipedia.org/wiki/List_of_companies_affected_by_...

That's a problem for your kids to figure out ~ those currently getting enriched from these schemes.

There is increasingly becoming more of a divide between haves and have nots, and it has a temporal component because of how equity has appreciated over the last decade or so. Both housing and stocks.

People from a decade ago have seen absolutely unsustainable appreciation in their assets while doing nothing. That is putting them at structural advantages against younger generations that will not see those same appreciations. It's like the bus has left without them. No matter how hard and fast they run, someone asleep on the bus will always be ahead of them.

"We do not inherit the earth from our ancestors; we borrow it from our children."

They won't stay gigacaps for 5 years if they don't become profitable. At their size, they can't just keep burning money at that scale under the public's eyes. The funding will divert from VC to shareholder equity and that will quickly see they don't stay gigacaps.

So this is a self correcting problem. Either they'll start making money and hit profitability targets or their market cap will diminish.