GenZedong

It's an intersection of immature tech and desperate capital.

Look at some of the rubbish that was tossed around when personal computers were new. The classic one is "you'll have one in the kitchen to store recipes" but they didn't foresee livestreaming or Microsoft Excel. Or look at some of the railway routes proposed in the mid-1800s. Fair enough, people will speculate and make dubious guesses about the future of new tech. I expect we'll find useful cases for generative AI, but many of the "now with extra fingers" products will wither when they prove to offer unacceptable cost once unsubsidized, or simply prove to be too much hassle to get correct output from. When a support LLM regularly gives technically incorrect answers, nobody will want it no matter how clean its grammar and florid its language is.

But fir now, it's fuel for late-stage capitalism that has to jump from bubble to bubble to keep delivering infinite growth. They'll wager on any and all of it, even the stupid and ultimately useless stuff, in case it delivers the moonshot return they're after. It's institutional FOMO that they might miss buying into day-1 Apple, or that they might strangle their big win by not cramming it down everyone's throat hard enough.