[smcl]

While many people thought Facebook/Google paid too much for these companies, you're making an apples-to-oranges comparison. That part about there being "no path to making money" is wrong - online advertising was a huge industry and only getting stronger and while YT/Insta/Whatsapp may have struggled as standalone companies it was clear they'd unlock an enormous amount of value as part of a bigger company that already had a strong foothold in advertising online.

It is not clear who, other than maybe someone like Microsoft, could actually acquire companies like OpenAI or Anthropic. They are orders of magnitude larger than the companies you mentioned in terms of what they are "worth" (haha) and even how much money they need just to keep the lights on, let alone turn any kind of profit.

Not to mention the logical fallacy at the core of your point - people said "the exact same[sic] thing" about YouTube, Instagram and Whatsapp ... therefore, what, it necessarily means these companies are the same? You realise that many of us talked like this about "the blockchain", and "the Metaverse" and about those stupid ape JPEGS and we were absolutely correct to do so.

[dist-epoch]

> Not to mention the logical fallacy at the core of your point

Yes, it's a logical fallacy. Another one is saying "I don't see any viable business model, therefore there is no viable business model".

Blast from the past:

> YouTube is a content paradise though. There's tons of value there and you can sell ads against it or even charge for premium services.

> Where's the money in Instagram? The content is practically worthless and their only real value is in their userbase. Even though I use the Instagram client, most of the time I see photos, they come through Twitter. So that also reinforces for me that any value is in the users and not the actual content, which is mostly crap.

> I'm more convinced that we're in a 2nd bubble now more than ever.

https://news.ycombinator.com/item?id=3818037

Another one:

> Does anyone else think this valuation is insane? It's like $300/registered user. The company doesn't have a business model. No way the handful of employees are worth $1B. My mind is blown.

https://news.ycombinator.com/item?id=3817930

[smcl]

It sounds like you're really into this and I hope for all of our sakes that you are correct to be all hyped up about AI. Because if you're not and that this is a horrific bubble that is going to burst then we're all in big trouble