Artificial Intelligence Supplants Crypto, Web3, and the Metaverse as the Hot New Thing in the Valley

Christopher Mims, Wall Street Journal:

Technologists broadly agree that the so-called generative AI that powers systems like ChatGPT has the potential to change how we live and work, despite the technology’s clear flaws. But some investors, chief executives and engineers see signs of froth that remind them of the crypto boom that recently fizzled.


“The people talking about generative AI right now were the people talking about Web3 and blockchain until recently—the Venn diagram is a circle,” says Ben Waber, chief executive of Humanyze, a company that uses AI and other tools to analyze work behavior. “People have just rebranded themselves.”

One difference between this wave of hype and those which have come before it is how anyone can imagine how they might use these services. Who gives a shit about virtual reality meetings? Pretty much nobody so far. Generative services seem like a more lasting proposition, assuming it is possible to make them more accurate and comprehensive.