We've had unhinged evaluations for a decade. We hit peak absurdity with Yo (https://techcrunch.com/2014/07/18/yo-raises-1-5m-in-funding-...)
It was a scam app where you send "yo" to your friends. Then blockchain scams, now AI hype.
During COVID, you could interact with a dozen "unicorn" companies that all were unprofitable.
You can view YC demo days to see product and revenue mean absolutely nothing.
Imagine 100 years ago trying to get a business loan by saying "I have no customers and no revenue, but I'm worth billions!"
I vote for "unhinged" as Word Of The Year.
Interesting that The Economist thinks they are "verging on the unhinged", and not yet actually unhinged. Is that a buy signal? :-)
What's ASI?
We've had unhinged evaluations for a decade. We hit peak absurdity with Yo (https://techcrunch.com/2014/07/18/yo-raises-1-5m-in-funding-...)
It was a scam app where you send "yo" to your friends. Then blockchain scams, now AI hype.
During COVID, you could interact with a dozen "unicorn" companies that all were unprofitable.
You can view YC demo days to see product and revenue mean absolutely nothing.
Imagine 100 years ago trying to get a business loan by saying "I have no customers and no revenue, but I'm worth billions!"