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This part gave me a grim chuckle (this is 404 Media, inner quote is from Goldman):

“The paper ultimately questions whether generative AI will ever become the transformative technology that SV and large portions of the stock market are currently betting on, but says investors may continue to get rich anyway. ‘Despite these concerns and constraints, we still see room for the AI theme to run, either because AI starts to deliver on its promise, or because bubbles take a long time to burst.‘”

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