The L2 playbook is basically the AI playbook in 2 years:

• Early movers win big
• VCs flood in with bags
• Copy-paste projects claim "innovation" with minor tweaks
• Market gets saturated with garbage
• 99% of copycats die quietly
• VCs still exit with profits

Same cycle, different narrative. The question: who are the real pioneers in AI, and who's just riding the hype train?

Watch for teams shipping actual products vs. teams shipping decks. History doesn't repeat but it rhymes hard in crypto.