It's a good point. Any business can get revenue by selling Twenty dollar bills for $19. But in the history of tech, many winners have been dismissed for lack of an apparent business model. Amazon went years losing money, and when the business stabilized, went years re-investing and never showed a profit. Analysts complained as Amazon expanded into non-retail activities. And then there's Uber.

The money is there. Investors believe this is the next big thing, and is a once in a lifetime opportunity. Bigger than the social media boom which made a bunch of billionaires, bigger than the dot com boom, bigger maybe than the invention of the microchip itself.

It's going to be years before any of these companies care about profit. Ad revenue is unlikely to fund the engineering and research they need. So the only question is, does the investor money dry up? I don't think so. Investor money will be chasing AGI until we get it or there's another AI winter.