The text explores the volatile landscape of the AI industry, characterized by rapid growth, inflated valuations, and intense competition. The phrase "This time it's different" is used ironically to highlight the similarities between current AI hype and past tech bubbles. Companies are aggressively seeking elite AI talent, disrupting established startup dynamics. The race to build massive data centers is escalating, exemplified by projects from OpenAI, Meta, and others. The use of metrics like ARR (Annual Recurring Revenue) is inflating valuations, sometimes masking underlying financial challenges. The text points to the ethical and social consequences of the AI boom, including the potential for a broken social contract of startup creation. Secondary share sales and SPVs are becoming common, further fueling the financial frenzy and potentially obscuring risks. The acquisition of AI talent is rampant, with companies poaching employees and founders often prioritizing personal gain. While these companies are raising huge sums of money, profitability remains uncertain, with some showing negative gross margins. The article highlights a lack of transparency, with warnings about unauthorized share sales and investments, raising questions about the industry's long-term sustainability. Ultimately, the piece suggests that the financial excesses of the AI boom are overshadowing the potentially positive impact of the technology.