The distinction nobody makes is between the AI infrastructure bubble and AI utility. The infrastructure spending is clearly overheated - the capex numbers are insane relative to actual revenue. But the underlying technology genuinely works for specific use cases. I use LLMs daily in production pipelines and they save me hours of work that would otherwise require hiring. The bubble popping would mean GPU prices crater, API costs drop further, and the actual useful applications become cheaper to run. That's not a catastrophe for builders - it's a gift. The people who get hurt are investors in pure-play AI companies with no real moat and NVIDIA's stock price.