This hype of artificial intelligence that we are experiencing may be the greatest collective delusion in human history. A new reality is expected to be enabled by the immeasurable power of the tools developed by the seven largest AI companies. The hype aims to increase valuation, that is, the value of a company in the stock market that involves both shareholders and venture capitalists, who in the last three years invested more than one and a half trillion dollars in the aforementioned, supposedly to achieve profits never seen in history... Bullshit! The total revenue of these companies together was only 20 billion last year, far below what was expected. That's right, revenue of 20 billion for an annual investment of more than 350 billion, and a total investment of more than one trillion. Financial return 50 times less than investments in data centers. On the other hand, for the first time in history, the NY stock market is worth more than the American GDP (2X)!
The stock prices, the multiples, compared to revenue versus the stock price on the exchange, are at an all-time high, especially for these seven companies that are the AI leaders. There's a belief that this bubble is going to burst and take the American economy down with it. Sam Altman, CEO of OpenAI, has already started crafting the narrative that the U.S. government will have to bail out companies just like they did with the banks when the 2008 bubble burst. This means the U.S. will have to print trillions, causing an insane inflationary effect. The American debt has already skyrocketed. Six or seven guys managed to convince millions to invest everything they have, including those who make a living off investments, the venture capitalists, in companies that have no chance of turning a profit, at least in the next decade. Question: How has this influenced the crypto market?