edit 2 this is the article I meant to share from Nik Suresh who Ed featured https://ludic.mataroa.blog/blog/ai-mania-is-eviscerating-global-decision-making/

edit sorry I meant to link unpaywalled article, there is another similar current one from Ed

https://www.wheresyoured.at/the-more-you-buy-the-more-you-lose/

Ed asked me to write about why leaders around the world are constantly buying software they don’t need. He probably had a few high-profile companies in mind, like Snowflake. Put aside whether Snowflake is a good product – most people don’t know what a database is, so why on earth does a specialized and very expensive database have a market cap of $71B?

That’s a fair question – and being both a software engineer and the managing director at a tech consultancy, I can talk about what’s happening on the ground. And yes, people are buying software that they don’t need.

I wish that was the extent of our problems.