Isn't ChatGPT in production with a bunch of VERY useful features? With hundreds of millions of users too.

Adobe and Canvas have some decent offerings too.

It does better a lot of things and holds potential eating whole industries. As if VCs were not spending money on .com bubble, Wen 2.0, Mobile apps, VR, Blockchain etc etc.

Each technology has its hype cycle.

But still out of those come some big guys, Google, Amazon, Facebook kinda came out of .com and Web 2.0

Instagram came out of mobile.

Blockchain and VR are not considered really useful but at least for investor some of it was right. I mean Andreessen Horowitz invested 75M in Oculus in 2013 and Oculus was bought for 2B in 2014 by Facebook

Was it wrong? :D

They actually also invested 250K in Instagram for it later to sell to Facebook which earned them 78M. That's like 312x return on investment 0_0

But that's on isolation. In reality VCs play different game. They invest in 100 with 95 failing completely.

4 doing so so and 1 becoming Instagram.

It just they invested 100 times 250k which is 25M but one Instagram returned them 75M so they are fine.

So yeah its fine that they are throwing money now right and left. Couple of those throws are gonna hit new Google, Facebook etc. Just of AI age.