They nominally come across as a more stable ship with less clouds over its leadership.

However all of the major privately held AI players are struggling to paint a business and financial picture that doesn’t look “terrible” at best and “verge of market moving implosion” at worst.

For now the only thing keeping this all alive is more and more irrational cash being thrown on the pile in the faint hope that something stops the implosion from happening.

This is important context in the wake of yesterday’s “raise” announcement. A lot of this stuff seems to just quietly never happen once the ink on the PR puff dries.

The AI industry increasingly looks in scramble mode to keep the hype going as those storm clouds of financial and business reality get darker and darker on the horizon.

The whole company appears to be a giant pile of burning cash at this point and I can only imagine that this wasn’t exactly helping that situation.

Was it fun while it lasted? Sorta, but it got old pretty quick.

Is this a business? Hell no.

The “anti-AU hype” phrase oversimplifies what’s playing out at the moment. On the tech side, while things are a bit rough around the edges still the tech is very useful and isn’t going away. I honestly don’t see much disagreement there.

The concern mostly comes from the business side… that for all the usefulness on the tech there is no clearly viable path that financially supports everything that’s going on. It’s a nice set of useful features but without products with sufficient revenue flowing in to pay for it all.

That paints a picture of the tech sticking around but a general implosion of the startups and business models betting on making all this work.

The later isn’t really “anti-AI hype” but more folks just calling out the reality that there’s not a lot of evidence and data to support the amount of money invested and committed. And if you’ve been around the tech and business scene a while you’ve seen that movie before and know what comes next.

In 5 years time I expect to be using AI more than I do now. I also expect most of the AI companies and startups won’t exist anymore.