They meant in the sense that crypto/nft was the last fad that VCs were throwing money at.

It’s actually hilariously transparent how dumb VCs are and how much tech companies exploit that. Every now and then they randomly get hyped by some big tech company over some ‘new’ Y idea, then suddenly they throw money at any company suggesting they are doing Y thinking they will be the next Google or Meta. Then they inevitably doesn’t materialise and they move onto the next fad.

Through the years I’ve been in the industry we’ve had Big Data, followed by AI, followed by Cloud, followed by blockchain, followed by nfts, followed by metaverse and now back to AI again. And the tech companies don’t even need to implement any of this they just have to find a way to spin what they are doing to make it sound like the fad is what they’re doing.

Yeah I was going to say VC throwing money at the newest fad isn’t anything new, in fact startups strive exploit the fuck out of it. No need to actually implement the fad tech, you just need to technobabble the magic words and a VC is like “here have 2 million dollars”.

In our own company we half joked about calling a relatively simple decision flow in our back end an “AI system”.