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.
And an additional response, because I didn’t fully answer your question. LLMs don’t reason. They traverse a data structure based on weightings relative to the occurrence frequency in their training content. Loosely speaking, it’s a graph (https://en.wikipedia.org/wiki/Graph_(abstract_data_type)). It appears like reasoning because the LLM is iterating over material that has been previously reasoned out. An LLM can’t reason through a problem that it hasn’t previously seen unlike, say, a squirrel.