I'm not seeing how you're replying to this comment. I'm not sure you've understood their point.
The point is that there's a correlation between macroeconomic dynamics (ie., the price of credit increasing) and the "rise of AI". In ordinary times, absent AI, the macroeconomic dynamics would fully explain the economic shifts we're seeing.
So the question is why do we event need to mention AI in our explanation of recent economic shifts?
What phenomena, exactly, require positing AI disruption?
Social media. Especially in SV, the embarrassment of failing publicly having been given so much money is far too painful psychologically.
Spinning that to say you're a "visionary" for replacing expensive employees with AI (even when it's clear we're not there yet) is risky, but a good enough smoke screen to distract the average bear from poking holes in your financials.
The point is that there's a correlation between macroeconomic dynamics (ie., the price of credit increasing) and the "rise of AI". In ordinary times, absent AI, the macroeconomic dynamics would fully explain the economic shifts we're seeing.
So the question is why do we event need to mention AI in our explanation of recent economic shifts?
What phenomena, exactly, require positing AI disruption?