Is the AI bubble repeating 1999? David Trainer reveals the danger of hype.

Let me start by saying we're in one of the most confusing markets in the last 25 years. The takeaway is pretty clear here. I haven't really seen anything like this since the dot-com bubble, and there's been a lot of comparisons, but I think the ones that matter most are the narrative bubble. The AI is going to disrupt everything. The same thing was being said during the internet bubble. Same pattern, different technology. Back then, companies with no earnings got AI bid to the moon and internet hype. And we're seeing the same thing. Companies with no real cash flow are getting bid up based on AI hype. There's also a narrative chaos that reminds me of 1999. Just everybody, blah, blah, blah, AI, right? And the narrative chaos is that Monday, AI is going to destroy every SaaS company. Tuesday, it's coming for lawyers. Wednesday, CRMs are next. Thursday, healthcare's under threat, right? Friday, actually AI needs all of these companies. Investors are paralyzed and nobody knows where to look.