AI bubble: A company registered with AI in its name got immediate $260m valuation despite having no product!

Just proof that most people have goldfish memory; we can't see DotCom bubble repeating itself in front of us! This is a huge bubble & can end up in another “lost decade”:

“A.I.” company raises record $113 million just a month after being founded—despite having no product and only just hiring staff.

https://techcrunch.com/2023/06/13/frances-mistral-ai-blows-in-with-a-113m-seed-round-at-a-260m-valuation-to-take-on-openai/