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Some VCs are skeptical of the AI hype after getting burned on crypto.
“But how will it make money?” they ask about an objectively useful technology, two years after pouring cash into crypto, a technology that appeared to create money but did nothing useful.
One investor said that, because of the huge amount of capital and computing resources required, recent leaps in generative AI were comparable to landing on the moon: a massively impressive technical achievement, only replicable by those with nation-state level wealth. “Companies are extremely overvalued and the only justifiable investment thesis is to get in incredibly early,” said another veteran investor. “Otherwise you’re only buying in because of FOMO.”
Sceptical investors worry whether advances in AI will make money
[FinancialTimes]
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