AI Bubble Analysis

TL;DR

A Reddit-tier macro analysis arguing that AI valuations aren't actually insane because we have physical GPUs and actual revenue to show for the burn.

Who is this actually for?

Anxiety-ridden founders and VCs trying to justify their high burn rates to LPs before the next funding round.

The Good

• Reminds everyone that OpenAI and Anthropic have actual revenue, unlike the 'hope and prayers' business models of the DotCom era.
• Correctly identifies that physical data center infrastructure provides a tangible floor that previous bubbles lacked.

The Catch (Potential Downsides)

The author originally confused P/E ratios with Revenue multiples, which is a massive red flag for any financial 'analysis.' It also ignores that high upfront costs can still kill a company even if the tech is real.