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They've gobbled up as much money as they can without delivering promises...

There's truth in both....we're definitely in a race towards THE TWILIGHT ZONE.

Quite plausible! Would be the most pathetic face-saving gambit in history, if true.

promising to do things in the next six months that have never been done by anyone is not an advisable strategy

This makes so much sense. Businesses aren't getting the returns they were promised

That great thing we promised would prove our greatness — well, turns out it's too great for you to handle.

They are effectively creating an AI cartel, and the incentives to cheat are enormous -- while there's no way of policing themselves. They can continue developing AI in private, promises to "slow it down" notwithstanding. Will Chinese and European companies be part of this cartel?

It's always about regulatory capture. They're setting the stage for, "well, we are all over here acting responsibly, but just look at what the Chinese AI companies have done, they've gone and made a better model."

Is there any reason we should take these VC propagandists at their word?

This is EXACTLY right!

probably the insane expense of it all is a factor as well.

This has the ring of truth.

The latest models are frankly scary. But you’re convinced! Whew!