This time is different because we have the earnings...while completely ignoring the return on capital...is nothing more than a CNBC meme...

Why not? After all tulips are quite pleasant when the message about them isn't "HODL." You could hardly claim they have no value, only that their perceived value had come to be dominated by groupthink.

Sure sounds like LLMs to me. A fine technology. It exists. Like tulips, it will exist for quite a while to come. So maybe people could stop "betting on it" like it's a polymarket prediction on the second coming of Christ, eh? LLMs, like Christ and Tulips, do not require you to bet on them.