And, the .com bomb killed some companies and slowed down spending for a bit. It did not kill the internet, and now companies like Amazon(.com) are absolutely enormous.

Some people think the GenAI bomb is going to kill GenAI, I think it's just going to weed out those with too high of expenses and no way to evolve the compute to be cheaper over time.

"Some people think the GenAI bomb is going to kill GenAI,"

Sure, a very very small percentage of people who know hardly anything about GenAI might think this.

It's the opposite. The more I learn about the financial state of these companies the worse my opinion gets.

The forward P/E of the Nasdaq 100 is pretty exemplary of how this is not the same situation at all.

https://en.macromicro.me/series/23955/nasdaq-100-pe

It is easy to spot the dot com bubble on this chart.

It’s a fair point. At the same time there’s actual software and not vapourware of the dot com boom.

There was barely no one using the internet then let alone doing e-commerce.

It’s worth reading up on it to see what’s actually comparable.