Part 5/12:
The analogy underscores concerns that today’s AI investments may face a similar fate. For instance, a leaked internal memo from Sam Altman, CEO of OpenAI, admitted that Google’s latest AI version, Gemini 3, has leapfrogged OpenAI’s ChatGPT in some aspects, signaling fierce competitive pressure. While ChatGPT's achievements have been impressive, Google’s revenue of $102 billion in Q3 2025—up 16% year-over-year—and a net income of $35 billion—up 33%—demonstrate its financial strength and ability to fund aggressive AI R&D from cash flow, with minimal debt.