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Inducing demand looks a lot like manufacturing consent these days. You should probably become aware of the hype cycle if you wish to avoid being cattle. 1. An “innovation” is created. It has to be new but not necessarily useful. 2. It’s sold to investors as the future - something that will make all existing tech obsolete. VCs know this may/may not be true, but their job is to take risky bets. Once they put their money in, though, they will always maintain its the future. 3. Money used to increase scale of production and reach of audience. Note how everyone was saying meatless meat was the natural evolution of food and ai is the natural evolution of coding. The media blitz isn’t an accident, it is a well-orchestrated symphony of opinion-shaping. Everyone becomes incentivized to hop on this temporary gold rush as fast as possible because the media blitz makes it unignorable. 4. A natural equilibrium is reached where the innovation’s actual market size is discovered (it’s never as big as the hype would suggest), and the hype and market contracts. Users who like the product quietly continue to use it, executives stop forcing staff to investigate, influencers release content saying they knew it was hype all along, investors move on to the next thing, and founders pivot. 5. GOTO 1.
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