In this emerging AI era, what’s different this time when it comes to tech investing? We’ve seen major disruptions before, both business model (eg, internet > mobile > social > AI) and cultural/structural/economic (eg, ZIRP, gig workers, Covid, remote working, cloud computing). Prior eras followed a similar playbook: irrational exuberance leading to the trough of despair, followed by the emergence of a handful of market leaders with escape velocity and long tail of minor players, all ...