Is AI just another tech bubble or the defining platform shift of this era?

Duncan Davidson, Co-Founder and General Partner at Bullpen Capital, argues that the answer lies in one critical distinction: Is the technology being used for its core purpose? In this episode of Technoventure, Duncan draws on his experience across the PC boom, dot-com era, mobile, and now AI to explain why real adoption signals durability.

He also explores why CIOs can’t afford to sit out a boom, how AI agents may disrupt the SaaS model, and why history suggests productivity revolutions create more opportunity than they destroy. For technology leaders navigating board-level AI pressure, this conversation reframes the question from timing the bubble to strategically participating in the inflection.

Key insights include:

Why core-use adoption determines whether AI is hype or a true platform shift
Why leaders must participate in tech booms rather than try to time the peak
How to distinguish defensible AI innovation from fragile “wrapper” plays
What historical signals indicate when a technology boom is nearing exhaustion

Bubble or Breakthrough? How CIOs Should Think About the AI Tech Boom