Silicon Valley's AI Hype Finally Cracks
The Valley Bubble Breaks
After the US midterms, AI-related stocks tumbled and the author argues the Valley's reality bubble has burst. Its consumer innovations were free; AI is neither free nor cheap, and normal people cordially dislike it. Once investor money dries up, the Valley loses its global center of gravity permanently, giving way to a multi-hub world—which the author welcomes. AI can copy, but it cannot innovate.
This is the first time ever a technological advance is so cordially disliked, and the Valley is not equipped to detect that.