The technology people were developing in the 80s was also gold, in terms of its usefulness. Heck, much of it forms an essential part of the coding harnesses we all rely on nowadays.

But that didn’t stop the AI winter from coming. Because a technology being transformative does not protect it from over-investment. History perhaps suggests the opposite is true.

Nor did it prevent the AI companies of the 80s from going bankrupt when they got undercut by the commoditization that naturally came with the maturation of the technology.