Why the artificial-intelligence advertising spree could be the last hurrah - like the dot-coms in 2000 OpenAI and Anthropic are losing enormous amounts of money, yet are given valuations as if they were real companies making real profits. During Super Bowl XXXIV on Jan. 30, 2000, 14 of the 61 television advertisements were for internet startups. Perhaps they should have heeded the advice offered by E-Trade's "Waste of Money" ad that year, which featured a dancing monkey and ended with the on-screen punchline: "Well, we just wasted $2,000,000. What are you doing with your money?" That Super Bowl was played...