Rahul Ganjoo Calls Out ‘FOMO Merchants’ Fueling AI Hype

Rahul Ganjoo, who is building district by Zomato, has sparked a conversation on the growing wave of artificial intelligence enthusiasm, cautioning against what he describes as a mix of “FOMO merchants and grifters” capitalising on the current tech narrative.

In a LinkedIn post that has drawn significant engagement, Ganjoo reflected on the sense of “cognitive dissonance” many may feel amid the relentless stream of AI announcements, products and predictions. He compared the current moment to previous hype cycles, recalling how five years ago bold forecasts projected Bitcoin touching $1 million and imagined a future where people would casually walk around wearing $5,000 headsets.

“That’s not to say platform shifts aren’t real,” he noted, acknowledging that technological transitions do happen and can reshape industries. However, he warned that every such shift attracts opportunists who sell certainty and inevitability.

According to Ganjoo, “FOMO merchants” thrive by packaging their version of the future as destiny. By framing skepticism as ignorance, they create social pressure that discourages questioning. “Anyone who questions is a luddite,  someone who ‘just doesn’t get it’,” he wrote, adding that no one wants to appear uninformed in public, which in turn strengthens speculative bubbles.

He also pointed to another emerging trend, individuals who may not deeply understand the technology but quickly align themselves with the buzz. These participants, he suggested, rebrand themselves overnight, update their LinkedIn profiles, attend conferences, and adopt industry jargon, mistaking proximity for participation and vocabulary for competence.

Ganjoo’s broader message was not anti-technology, but pro-skepticism. He urged readers to both prepare for change and retain the right to ask hard questions. “Cognitive dissonance is essential in these times,” he wrote, advocating for a balanced approach that combines belief in innovation with critical thinking.

Concluding his post, Ganjoo advised caution toward anyone expressing absolute certainty about the direction of the AI shift. “No one knows, not even your heroes,” he stated.

His remarks add to a wider industry debate around the pace, scale and sustainability of the AI boom, as companies, creators and investors navigate what many see as the next major platform transformation.