I'm not sure the bubble has anywhere near burst and it would actually be nice if it was ratcheted down in stages rather than a big bang happening, so this could be a useful setback. We are too used to this peak and trough type of economics, where people exceed at both ends - betting over the actual value in the good times and then selling like crazy in sheer panic when the inevitable bad times hit. It was a big wake up call in the tech industry though, because some of these companies thought they were the pioneers yet a much nimbler opponent has caught up with a fraction of the resources. It created massive ripple effects too with even data center providers, who had expected required expansion, realizing that they don't need as much computing power as originally expected to achieve the same results. Even OpenAI/ChatGPT were anticipating spending tens of billions a year in the next decade, which is proving much higher than will be necessary.