Ahhh, this is catnip, errr…cold beer for me.
A mix of history, pop culture, witty jokes and a pessimist vibe.
The Super Bowl has something for everyone. For sports fans, there’s the game itself. For music fans, there’s the halftime show. And for speculative bubble fans, there’s the TV ads. This year, we saw 15 ads featuring AI-related services, including ads from both Anthropic and OpenAI.[1] This advertising wave is consistent with a brewing AI bubble.
Let’s look at two prior waves of ads. First, Super Bowl XXXIV (on January 30, 2000) featured between 14 and 19 internet-related ads, depending on how you count. It thus earned the nickname “the Dot-Com Bowl.” Advertisers included Pets.com with its sock puppet, as well as E*Trade with three different ads. Eleven days later, Pets.com had its IPO. The stock market subsequently peaked on March 10, 2000, and Pets.com shut down in November 2000.
Second, Super Bowl LVI (February 13, 2022) prominently featured crypto ads, and was similarly dubbed “the Crypto Bowl.” Crypto advertisements included the now infamous FTX ad featuring Larry David. Nine months after the Crypto Bowl, crypto prices had collapsed and FTX’s founder, Sam Bankman-Fried, was in handcuffs.
I’d never heard of AI.com and Genspark, two of this year’s advertisers. AI.com’s founder is also a co-founder of Crypto.com, one of the Crypto Bowl advertisers in 2022. Crypto.com’s ad featured LeBron James and the slogan “Fortune favors the brave.” Unfortunately for crypto investors, in the period after February 2022, fortune actually favored the prudent.[7] Genspark’s ad featured Matthew Broderick and a reference to Ferris Bueller’s Day Off (1986). This ad didn’t work for me, as I was reminded of Broderick’s role in WarGames (1983), where a rogue AI nearly triggers nuclear war.
On the surface, Super Bowl LX was a battle between the Patriots and the Seahawks. But on a different level, it was a battle between Anthropic and OpenAI. Here’s PitchBook:[8]
The two largest AI startups duking it out during America’s most-watched cultural event of the year signals a new phase in the battle for dominance: the fight for mindshare and legitimacy as both prepare for massive IPOs.
Once again, today’s stock market resembles 1999/2000. If the wave of AI ads at the Super Bowl is followed by a wave of AI IPOs later this year, watch out.