> I think the closest analogy we have of the AI boom is the mid 90s browser wars.

Depends on how old you are. This analogy makes sense if you were a teenager in the mid 90s. I am older than that so to me, this same pattern had happened when PCs were becoming mainstream. That was 40 years ago so memory of it might be faint or lost. Also VCs weren't really a huge deal back then either but the fundamentals were the same.

We are all overreacting over a nascent industry, upset that it's increasing prices for everyone and pushing humans out of jobs. This is understandable but the conclusion is wrong. We are letting emotions drive decisions.