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The tech industry's successive waves of fascination with get-rich-schemes powered by FOMO ("my idiot neighbor is getting rich, I have to get on this") actually serve a useful social purpose. It compartmentalizes the negative impact of a certain kind of people/activity.
By default, the get-rich-quick folks go into what's hot. And you wouldn't want them to be founding AI startups promising the Singularity in 5 years, or biotech startups promising 100s of blood test results from a single finger prick. The fallout would be devastating.
Well-isolated tech grifter ecosystems work as a magnet that shields productive areas of research and product development from conmen, their deleterious mentality, and their long-term impact on public confidence. If the 3rd AI winter never arrives, it's thanks to them.
So if an ambitious young person asks me whether they should go into crypto/NFTs or into AI, I will definitely tell them to go for crypto. (It used to happen a lot around 2017, not so much nowadays, which is great: AI is no longer "hot" in this way.)
(If you're hesitating between these two options, then the right option for you is not AI.)
Wasn't the internet once a get-rich-quick scheme?
Oh god that blood sample startup scam. So many fell for that.
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