This is really the biggest red flag, non-technical people's (by extension investors and policymakers) general lack of understanding of the technology and its limitations.
Of course the valuation is going to be insanely inflated if investors think they are investing in literal magic.
I would blame the business people for being so gullible too.
There's some blame there, sure. But generally people would agree that between a con man and his victims, the con man has the greater moral failing.
In general yes. But here we talk about businessmen who are paid quite a lot of money literally to make decisions like these.
It is kind of like when a cop allows his gun to be stolen. Yes, the criminal is the guilty, but also the cop was the one person supposed to guard against it.
I mean, the AI companies have £200 a month plans for a reason. And if you look at Blitzy for example, their plans sit at the £1000 a month mark.
This is entirely on the AI companies and their boosters. Sam Altman literally says gpt 5 is "like having a team of PhD-level experts in your pocket." All the commercials sell this fantasy.