[Editor’s Note: Agents of Transformation is an independent GeekWire series and 2026 event, underwritten by Accenture, exploring the people, companies, and ideas behind the rise of AI agents.]

What separates the dot-com bubble from today’s AI boom? For serial entrepreneur David Shim, it’s two things the early internet never had at scale: real business models and customers willing to pay.

People used the early internet because it was free and subsidized by incentives like gift certificates and free shipping. Today, he said, companies and consumers are paying real money and finding actual value in AI tools that are scaling to tens of millions in revenue within months.

But the Read AI co-founder and CEO, who has built and led companies through multiple tech cycles over the past 25 years, doesn’t dismiss the notion of an AI bubble entirely. Shim pointed to the speculative “edges” of the industry, where some companies are securing massive valuations despite having no product and no revenue — a phenomenon he described as “100% bubbly.”

He also cited AMD’s deal with OpenAI — in which the chipmaker offered stock incentives tied to a large chip purchase — as another example of froth at the margins. The arrangement had “a little bit” of a 2000-era feel of trading, bartering and unusual financial engineering that briefly boosted AMD’s stock.

But even that, in his view, is more of an outlier than a systemic warning sign.

“I think it’s a bubble, but I don’t think it’s going to burst anytime soon,” Shim said. “And so I think it’s going to be more of a slow release at the end of the day.”

Shim, who was named CEO of the Year at this year’s GeekWire Awards, previously led Foursquare and sold the startup Placed to Snap. He now leads Read AI, which has raised more than $80 million and landed major enterprise customers for its cross-platform AI meeting assistant and productivity tools.

He made the comments during a wide-ranging interview with GeekWire co-founder John Cook. They spoke about AI, productivity, and the future of work at a recent dinner event hosted in partnership with Accenture, in conjunction with GeekWire’s new “Agents of Transformation” editorial series.

We’re featuring the discussion on this episode of the GeekWire Podcast. Listen above, and subscribe to GeekWire in Apple Podcasts, Spotify, or wherever you listen. Continue reading for more takeaways.

Successful AI agents solve specific problems: The most effective AI implementations will be invisible infrastructure focused on particular tasks, not broad all-purpose assistants. The term “agents” itself will fade into the background as the technology matures and becomes more integrated.

Human psychology is shaping AI deployment: Internally, ReadAI is testing an AI assistant named “Ada” that schedules meetings by learning users’ communication patterns and priorities. It works so quickly, he said, that Read AI is building delays into its responses, after finding that quick replies “freak people out,” making them think their messages didn’t get a careful read.

Global adoption is happening without traditional localization: Read AI captured 1% of Colombia’s population without local staff or employees, demonstrating AI’s ability to scale internationally in ways previous technologies couldn’t.

“Multiplayer AI” will unlock more value: Shim says an AI’s value is limited when it only knows one person’s data. He believes one key is connecting AI across entire teams, to answer questions by pulling information from a colleague’s work, including meetings you didn’t attend and files you’ve never seen.

“Digital Twins” are the next, controversial frontier: Shim predicts a future in which a departed employee can be “resurrected” from their work data, allowing companies to query that person’s institutional knowledge. The idea sounds controversial and “a little bit scary,” he said, but it could be invaluable for answering questions that only the former employee would have known.

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Seattle is looking to celebrate and accelerate its leadership in artificial intelligence at the very moment the first wave of the AI economy is crashing down on the region’s tech workforce.

That contrast was hard to miss Monday evening at the opening reception for Seattle AI Week 2025 at Pier 70. On stage, panels offered a healthy dose of optimism about building the AI future. In the crowd, buzz about Amazon’s impending layoffs brought the reality of the moment back to earth.

A region that rose with Microsoft and then Amazon is now dealing with the consequences of Big Tech’s AI-era restructuring. Companies that hired by the thousands are now thinning their ranks in the name of efficiency and focus — a dose of corporate realism for the local tech economy.

The double-edged nature of this shift is not lost on Washington Gov. Bob Ferguson.

“AI, and the future of AI, and what that means for our state and the world — each day I do this job, the more that moves up in my mind in terms of the challenges and the opportunities we have,” Ferguson told the AI Week crowd. He touted Washington’s concentration of AI jobs, saying his goal is to maximize the benefits of AI while minimizing its downsides.

Seattle AI Week, led by the Washington Technology Industry Association, was started last year after a Forbes list of the nation’s top 50 AI startups included none from Seattle, said the WTIA’s Nick Ellingson, opening this year’s event. That didn’t seem right. Was it a messaging problem?

“A bunch of us got together and said, let’s talk about all the cool things happening around AI in Seattle, and let’s expand the tent beyond just tech things that are happening,” Ellingson explained.

So maybe that’s the best measuring stick: how many startups will this latest shakeout spark, and how can the Seattle region’s startup and tech leaders make it happen? Can the region become less dependent on the whims of the Microsoft and Amazon C-suites in the process? 

“Washington has so much opportunity. It’s one of the few capitals of AI in the world,” said WTIA’s Arry Yu in her opening remarks. “People talk about China, people talk about Silicon Valley — there are a few contenders, but really, it’s here in Seattle. … The future is built on data, on powerful technology, but also on community. That’s what makes this place different.”

And yet, “AI is a sleepy scene in Seattle, where people work at their companies, but there’s very little activity and cross-pollinating outside of this,” said Nathan Lambert, senior research scientist with the Allen Institute for AI, during the opening panel discussion.

No, we don’t want to become San Francisco or Silicon Valley, Lambert added. But that doesn’t mean the region can’t cherry-pick some of the ingredients that put Bay Area tech on top.

Whether laid-off tech workers will start their own companies is a common question after layoffs like this. In the Seattle region at least, that outcome has been more fantasy than reality. 

This is where AI could change things, if not with the fabled one-person unicorn then with a bigger wave of new companies born of this employment downturn. Who knows, maybe one will even land on that elusive Forbes AI 50 list. (Hey, a region can dream!)

But as the new AI reality unfolds in the regional workforce, maybe the best question to ask is whether Seattle’s next big thing can come from its own backyard again.

Related: Ferguson’s AI balancing act: Washington governor wants to harness innovation while minimizing harms