When I started angel investing in the late 1990s, a tech investment included a significant technology risk, with the potential upside being groundbreaking innovation. Being an investor at this time meant taking a considerable technology risk and betting on actual tech, such as nanotech, semiconductors or biotech.
E-commerce, albeit hyped and interesting, was not considered tech. It was “Business 2.0”, plain and straightforward, hype included.
Thanks for the respectful discussion! I work in ML (not LLMs, but computer vision), so of course I’m biased. But I think it’s understandable to dislike ML/AI stuff considering that there are unfortunately many unsavory practices taking place (potential copyright infringement, very high power consumption, etc.).