Jersey Mike’s IPO illustrates how bad the AI hype has become

The article argues that the AI hype has reached a tipping point, using Jersey Mike's IPO as an example. The author notes that while they understand why tech companies feel the need to mention AI in their pitches due to investor thirst, it becomes absurd when a sandwich shop with Danny DeVito as its public face talks about AI in its IPO documents. Upon examining Jersey Mike's S-1 filing, the author found that the term "artificial intelligence" and its acronym "AI" were mentioned 22 times. The company, which sells submarine sandwiches, cannot claim to be selling AI software but still found a way to mention AI in its investor-risk warnings. The risk warning was boilerplate copy, stating "We are beginning to use AI Technologies in our business" without explaining specific dangers. The author notes that while the company relies on software and data like all businesses, the risk of an AI disaster for a company producing real-life sandwiches is likely minimal. The author compares it to the risk of a franchise shop getting hit by lightning, which actually happened to a Texas shop in 2021, yet weather was only mentioned five times in the S-1, and lightning was not mentioned at all.