I work adjacent to software developers, and I have been hearing a lot of the same sentiments. What I don't understand, though, is the magnitude of this bubble then.
Typically, bubbles seem to form around some new market phenomenon or technology that threatens to upset the old paradigm and usher in a new boom. Those market phenomena then eventually take their place in the world based on their real value, which is nowhere near the level of the hype, but still substantial.
In this case, I am struggling to find examples of the real benefits of a lot of these AI assistant technologies. I know that there are a lot of successes in the AI realm, but not a single one I know of involves an LLM.
So, I guess my question is, "What specific LLM tools are generating profits or productivity at a substantial level well exceeding their operating costs?" If there really are none, or if the gains are only incremental, then my question becomes an incredulous, "Is this biggest in history tech bubble really composed entirely of unfounded hype?"