Mira Murati must be pleased with herself. Not many people can found a company in February and reach a valuation of $10bn by June. What's even more extraordinary is that the startup – Thinking Machines Lab – currently has no products or services.

What it does have is an incredible pool of talent. Until recently, Murati was chief technology officer of OpenAI, the company that created ChatGPT. Many of the other 40 employees also come from OpenAI or other AI companies and are undoubtedly some of the brightest minds in the field. But, let's be serious, a company with no offering and three dozen staff is still pure vapour, regardless of the pedigree of the founders.