Ed Zitron continues his Silicon Valley Bubble series following his exclusive on OpenAI's audited financials, which showed the company spent $34 billion to generate $13.07 billion in revenue — a $21 billion loss in 2025. He argues that Silicon Valley has devolved from pragmatic engineering culture into a pseudo-cult protecting venture capital investments through hype, fear-mongering, and financial obfuscation. The piece critiques how AI companies use doomerism and vague promises of AGI to sustain investment despite unsustainable burn rates, and how boosters have tied their identity to AI belief systems, making rational critique nearly impossible. The installment previews deeper dives into the AI media bubble, CFO complicity, the broader SaaS collapse, and the GPU infrastructure bubble.
