The stages of AI bubble are basically like this:

1. Denial: “No way these companies are worth anything. Zero profits.”

2. Anger: “Idiots! This will end like the 1999 dotcom crash!”

3. Bargaining: “Ok maybe if it goes lower I’ll… I’ll buy!”

4. Depression: “It just keeps going up…”

5. Acceptance: “I missed out, it was so obvious, now I’ll just buy in.”

That right there is a pretty good demonstration of the alternative position. "This time is different."