A lot of the money sloshing around in the valley was operating when there were low interest rates, says Julian Zelizer. Investors will buy into rounds with or throw as much money as possible at rounds to try to inflate the valuation and also get a better deal, he says. The desire for profit drives these hype cycles more than an actual development in technology that might be breakthrough, writes Zelizer.
Featuring Meredith Whittaker, Edward Ongweso Jr., and Sarah Myers West on the mundane dystopia concealed beneath the AI hype machine.
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