first time? Welcome to the irrational SV investor world. Its about hype, perception, politics, perceived future returns, not actual market fit and the proven viability of a technology. Its pets.com, myspace, and NVIDIA pumps because people want to 10x the money now.

Everyone and their dog has been saying its a bubble, there is no moat, this is all known techniques being scaled (very inefficiently) onto increasingly expensive hardware clusters at exponential cost, etc.