The Attention Mechanism with Andrew Mayne The AI Bubble Question
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Dec 2, 2025 The hosts dive into the pressing question of whether we are in an AI bubble, comparing it to past economic bubbles. They discuss the constraints in compute demand versus overhype and explore the dynamics of AI company valuations. ChatGPT's rapid user adoption and its real-world implications also take center stage. Rumors about ads in ChatGPT spark a conversation on monetization's challenges while emphasizing the importance of product integrity. Lastly, they touch on OpenAI's financial trajectory and the future impact of AI on commerce.
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Compute Demand Is Real Not Hype
- The AI market isn't a single bubble; compute demand is real and currently constrained.
- Andrew Mayne argues data centers and compute capacity are undersupplied, not overbuilt.
Capture Downstream Value, Not Just Sales
- When investing in AI infrastructure, expect to participate in downstream value, not just sell compute.
- Andrew Mayne recommends taking equity or revenue shares so vendors capture ongoing product upside.
Atari Started When Hardware Got Cheap
- Nolan Bushnell saw an expensive prototype game and waited for cheaper processors to build Atari.
- That story illustrates how price drops in hardware can ignite massive consumer markets.