A couple years ago, I totally bought the ‘AI is just the dot-com bubble 2.0’ panic. Saw the headlines, heard the whispers, and honestly? I bought in. FOMO does that to you. But then I started digging into the actual numbers—and wow, was I wrong.
Turns out, comparing today’s AI boom to Pets.com era is like comparing a tricycle to a Tesla. They both have wheels, sure, but one actually gets you somewhere.
## The Revenue Gap Is Wild
Pets.com—a poster child for dot-com mania—collapsed with about $600K in revenue. Let that sink in. Today? OpenAI’s reportedly sitting on $10 billion in annual recurring revenue as of June 2025. Anthropic didn’t just grow—it exploded from $100 million in 2023 to $4.5 billion by mid-2025. Even xAI, which feels the most ‘speculative,’ is already pulling $100 million.
This isn’t vaporware. Real money’s moving because real businesses are paying for real value.
## It’s Already in Your Daily Grind
You don’t need to squint to see AI working. Right now, it’s:
– Helping devs debug code before lunch
– Drafting lesson plans for teachers
– Running background checks for banks
– Designing logos for small businesses
Dot-com companies were betting on *maybe* future value. Today’s AI tools? They’re already baked into workflows. My cousin’s accounting firm uses it to clean up spreadsheets. My buddy’s bakery orders ingredients using an AI tool. It’s not ‘coming soon’—it’s here, today.
## Why This Matters to You
Look, I’m not saying AI’s risk-free. There are hype cycles, shaky startups, and yeah—some players will crash. But the core difference? Back in 2000, companies were burning cash praying ads would save them. Today, the money’s coming from companies actually using these tools to save time, cut costs, or build better products.
So next time someone says ‘bubble,’ ask: ‘Compared to what?’ Because if this is a bubble, it’s the first one filled with actual revenue, real users, and coffee breaks where people casually say ‘I used AI to fix that.’
—
*P.S. Shoutout to u/Siddhesh900 on Reddit for the clarity check. Sometimes the simplest numbers cut through the noise.*