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It's a gold rush. Nothing new. Fun to watch once you have the context to understand what is happening.
by nugget 11y ago
It's a gold rush. Nothing new. Fun to watch once you have the context to understand what is happening.
- zzalpha 11y agoExcept in a gold rush everyone is trying to get a piece of a real, actual resource. What are folks flocking to? A unique combination of deep VC pockets and gullibility that can only be found in the SF geological record? No, this looks more like a regular ol bubble to me... The flywheel is spinning up, driven by run of the mill irrational exuberance and a belief that everyone in the bay area is just smarter than everyone else. Anyone on wall street in 2007 should find that eerily familiar...
- deleted 11y ago[deleted]
- chipsy 11y agoGold isn't particularly real, as resources go. It doesn't have that many practical uses. That's what makes gold rush economics similar to bubble economics: Everyone decides to chase after a nebulous source of value. San Francisco has always been the Gold Rush City.
- chrisan 11y ago> It's a gold rush Which means it is best to sell the shovels so startup X can more easily/faster "disrupt the banana hammock ordering process"
- etjossem 11y agoNobody's selling shovels. Everyone is selling month-to-month shovel subscriptions.