Video Game Crash 1983:
https://en.wikipedia.org/wiki/Video_game_crash_of_1983

Exaggerated expectations of market growth, saturated market, too many players in the market, too little quality, no new features.

Dot-Com Bubble 2001:
https://en.wikipedia.org/wiki/Dot-com_bubble

In short ;)

IBM internet hype (commercial, 1997)
https://www.youtube.com/watch?v=IvDCk3pY4qo

>> "It says here, the internet is the future of business. We have to be on the internet."
>> "Why?"
>> "Doesn't say."

Crypto Meltdown 2022:
https://en.wikipedia.org/wiki/Cryptocurrency_bubble#2021%E2%80%932024_crash

Unregulated market, scams, exaggerated expectations of what the system can perform, exaggerated expectations of market growth.

My conclusion:

Video games recovered with new consoles with new features, better graphics and sound capabilities, more advanced games, and are still going strong.

The World Wide Web recovered with social media, Web 2.0, ~5 billion humans connected, still ~3 billions to go.

Crypto recovered and is meant to stay, if not at least as payment method for the hackers out there.

Outlook: Generative AI ???

Hype? Bubble? Bloom or Doom?

I say this time is different, cos generative AIs generate so called surplus value, the AI "delivers". Whatever this is in the eye of the beholder, it is measurable in dollars. You invest resources in creating an AI based on neural networks, and it returns surplus value (an economical feedback loop is established). A new smartphone does not generate surplus value, a Bitcoin does not generate surplus value, generative AIs generate surplus value:

https://en.wikipedia.org/wiki/Surplus_value

Nevertheless, apply lessons from the past on current generative AIs:

• exaggerated expectations of what the system can perform?
• exaggerated expectations of market growth?
• unregulated market?
• too many players in the market?
• too little quality?
• no new features?
• scams?

Pope Francis tells G7 that humans must not lose control of AI

[...]
The pope said AI represented an "epochal transformation" for mankind, but stressed the need for close oversight of the ever-developing technology to preserve human life and dignity.

"No machine should ever choose to take the life of a human being," he said, adding that people should not let superpowerful algorithms decide their destiny.

"We would condemn humanity to a future without hope if we took away people's ability to make decisions about themselves and their lives, by dooming them to depend on the choices of machines," he warned.
[...]
"Yet at the same time, it could bring with it a greater injustice between advanced and developing nations or between dominant and oppressed social classes," he said.

"It is up to everyone to make good use of (AI) but the onus is on politics to create the conditions for such good use to be possible and fruitful," he added.
[...]

World's First Bioprocessor Uses 16 Human Brain Organoids, Consumes Less Power

"A Swiss biocomputing startup has launched an online platform that provides remote access to 16 human brain organoids," reports Tom's Hardware: FinalSpark claims its Neuroplatform is the world's first online platform delivering access to biological neurons in vitro. Moreover, bioprocessors like this "consume a million times less power than traditional digital processors," the company says.
[...]
In a recent research paper about its developments, FinalSpakr claims that training a single LLM like GPT-3 required approximately 10GWh — about 6,000 times greater energy consumption than the average European citizen uses in a whole year. Such energy expenditure could be massively cut following the successful deployment of bioprocessors. 
[...]
The operation of the Neuroplatform currently relies on an architecture that can be classified as wetware: the mixing of hardware, software, and biology.
[...]
"While a wetware computer is still largely conceptual, there has been limited success with construction and prototyping, which has acted as a proof of the concept's realistic application to computing in the future." 

Well, now I am tripping, GPT-4o combines text, image, audio and video input, must watch:

Introducing GPT-4o
https://www.youtube.com/watch?v=DQacCB9tDaw

Protesters Are Fighting to Stop AI, but They’re Split on How to Do It

PauseAI protests are underway in London, New York, San Francisco, and across the globe. Its members have wildly different opinions on what the group should do next.

US Air Force Confirms First Successful AI Dogfight

[...]
the Defense Advanced Research Projects Agency (DARPA) revealed that an AI-controlled jet successfully faced a human pilot during an in-air dogfight test carried out last year.
[...]
After carrying out dogfighting simulations using the AI pilot, DARPA put its work to the test by installing the AI system inside its experimental X-62A aircraft. That allowed it to get the AI-controlled craft into the air at the Edwards Air Force Base in California, where it says it carried out its first successful dogfight test against a human in September 2023.

Synchron Readies Large-Scale Brain Implant Trial

[...]
Synchron's device is delivered to the brain via the large vein that sits next to the motor cortex in the brain instead of being surgically implanted into the brain cortex like Neuralink's.
[...]
In 2020, Synchron reported that patients, opens new tab in its Australian study could use its first-generation device to type an average of 16 characters per minute. That's better than non-invasive devices that sit atop the head and record the electrical activity of the brain, which have helped people type up to eight characters per minute
[...]
Reuters notes that Synchron's investors include billionaires Jeff Bezos and Bill Gates. It's competing with Elon Musk's Neuralink brain implant startup and claims it's farther along in the process of testing its device.

Vernor Vinge, Father of the Tech Singularity, Has Died At Age 79

Vinge, Vernor. "The Coming Technological Singularity: How to Survive in the Post-Human Era", in Vision-21: Interdisciplinary Science and Engineering in the Era of Cyberspace, G. A. Landis, ed., NASA Publication CP-10129, pp. 11–22, 1993.

https://web.archive.org/web/20140121032922/http://www.aleph.se/Trans/Global/Singularity/sing.html

https://archive.org/download/pdfy-MZn00mx0Y3Kv2X9O/Vernor%20Vinge%20The%20coming%20technological%20singularity.pdf

People talk a lot about AGI/ASI these days, artificial general intelligence and artificial super intelligence, the strong AI, with different definitions and time estimations when we will reach such a level, but, the actual point in TS takeoff is the feedback loop, when the system starts to feed its own development in an feedback loop and exceeds human understanding. As mentioned, we already have a human <-> computer feedback loop, better computers help us humans to build better computers, but I am still waiting/observing for the direct link, AI builds better AI, computers build better computers, the AI autopoiesis.

https://en.wikipedia.org/wiki/Autopoiesis

The first human sacrifice to the AI overlords? Something to ponder on....

Man ends his life after an AI chatbot 'encouraged' him to sacrifice himself to stop climate change