AI startups now make up a huge share of every YC batch and most VC deals. Genuine gold rush, or a bubble everyone can feel but nobody wants to say out loud?

Options

• Genuine gold rush. The technology shift is real, the money is following actual value.
• Obvious bubble. Half these companies are a ChatGPT wrapper and a pitch deck.
• Both true at once, gold rushes and bubbles have always overlapped historically.
• I'll believe it's real once the revenue numbers stop being mostly hype.