For the past nine months, nearly every investor with a Twitter account, blog, or board seat has been beating a unified and constant refrain: The go-go days are done. Founders were being pushed to build 36 months of runway, whether or not it was actually feasible to cut costs that much.
And then came Dall-E 2's public release, quickly followed by a flood of wildly cool technology. We are now seeing billion-dollar valuations for companies peddling products based on generative artificial intelligence algorithms with less than a million dollars of revenue and no proven business model.
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