Earlier quoted context omitted.
Can someone explain the dynamic that’s going on here? I somehow can believe that VCs are so stupid to be purely hype driven, so what is pushing them to make this their investment focus? Do they just jump on every bandwagon in the hope that one of them might pan out?
They invest in future potential. What you can do now is nearly irrelevant besides showing vision and competency. The next big thing isn't going to come from a couple of clever sql scripts.
What has AI really given us so far? Amazon / Youtube recommendations and some self driving cars that have crashed in unexpected ways. (Have they managed to debug that yet?)