For some reason, throughout history, people really love selling stuff that either doesn’t exist or isn’t theirs to sell. We’ve talked about the Brooklyn Bridge & Eiffel Tower, which are good lessons to know, but I think this issue is far more prevalent today than it was in the past. One such example is the massive AI craze that reached a marketing peak last year with consumer facing companies advertising their new AI products and features. The problem with this, however, is that these features didn’t exist, at least not in their complete forms that were highlighted in the ads. Apple was a major player in this, as it announced multiple AI driven software features at its annual developer’s conference in 2024 and even today a majority of those features are not ready. Apple’s own executives have admitted the software is not nearly close to ready. This issue, the AI hype over features that aren’t ready, is a market wide issue and it stems from the investment craze around AI, which practically forced companies to announce AI or their stock prices would plummet. Beyond AI, we have seen companies announcing products like EVs and humanoid robots and then let customers preorder these products. Sometimes these products do come out, but others like the Tesla Roadster are still awaiting their release date. At the end of the day, to be a conscious and responsible consumer today you need to examine the reviews of products and it really is best to only purchase items based on the features that exist today.
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