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Because the heads of tech companies jumped on TV and said that AGI was around the corner to basically prepare for job losses.

They just can't shut up about how AI is going to either save us all or kill us all.



Well the job losses have certainly arrived.

Whether that is due to AI, WFH->offshoring, or end of ZIRP is anybody's guess.

All I know is any tech meetups I go to are full of people looking for work and the recruiters that normally stop by have vanished.


The VC economy depends on a hype cycle. If one doesn't exist, they'd manufacture one (see web 3.0), but LLMs were perfect.




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