What if the bullishness around AI by the VC community is as misplaced as it was around crypto? 🤔

I think this is going to play out just like Social Networking:

1. Big platforms create API's for startups to build on
2. Startups build all of the actual features
3. Startups get acquihired for pennies on the dollar
4. Big platform shuts down API and brings all innovation in house
5. Big platform gets stale

I think that's right. The benefits of LLMs are significant, but the VC hype seems like overkill. 

It's going to be hard to compete with ChatGPT when every potential user already knows about it and assumes they can use it for everything. Plugins will be good businesses, but not sure if there's a VC-level opportunity.

Things like counterparty yield platforms (bankrupt now), Metaverse platforms (moved to AI), and DAO's (realized they are just corporations).

In what way would you say it was misplaced in crypto?