As a major locally-hosted AI proponent, aka a kind of AI fan, absolutely. I’d wager it’s even worse than crypto, and I hate crypto.

What I’m kinda hoping happens is that bitnet takes off in the next few months/years, and that running a very smart model on a phone or desktop takes milliwatts… Who’s gonna buy into Sam Altman $7 trillion cloud scheme to burn the Earth when anyone can run models offline on their phones, instead of hitting APIs?

And ironically it may be a Chinese company like Alibaba that pops the bubble, lol.