Alternative theory: "AI" is Silicon Valley searching for a new "business model"

Because it knows the current business model is not likely going to stand the test of time. Reality has returned. While it was suspended, Silicon Valley went on an incredible run and was able to stockpile absurd amounts of cash

As so-called "tech" companies now shrink in face of reality, Silicon Valley wants people to believe this is because of "AI", not because of the unsustainability of their data collection, surveillance and ad services "business model", and that the same fate awaits non-"tech" businesses and professionals

Perhaps SillyCon Valley can keep reality away for a while with supersized spending and borrowing and 24/7 marketing. People will certainly go along for the ride. Bankers and lawyers are making a fortune, for example

But eventually reality will return

Will Silicon Valley have found a new business model. Time will tell

Meantime, the so-called "tech" industry is being downsized