In 2021, Satya Nadella proclaimed that Microsoft was a Metaverse company. Subsequently, Microsoft announced their Industrial Metaverse group. Where did it go? Not far.

Despite all the hype, which was intense at the time, we just forget, many companies and tech CEOs leaned in hard.

At the same Microsoft was pitching OpenAI, GitHub code assistant, and early hints of AI agents and Copilots.

So, no, the GenAI movement is not new. “AI” is not in its early innings. I would argue it is a fast-paced game that is reaching the latter innings of the hype cycle.

As I warned many of my clients three years ago, this is not new tech. Beware the hype, especially after the SVB financial crisis and subsequent FDIC bailout which is now underwriting the current AI bubble.