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What the hell is Sam talking about? Quoting people from 2007-2008 saying we were in a bubble then as if nothing was wrong at the time? 2008/2009 was only partly

What the hell is Sam talking about? Quoting people from 2007-2008 saying we were in a bubble then as if nothing was wrong at the time? 2008/2009 was only partly insane because of tech, but it was an INSANE time: VCs were too scared to ask their LPs for cash because they knew the capital calls would fall short. Dealflow utterly halted for 6 months, and took another year after that to get back to something that felt productive. We were absolutely in a bubble then. Using bubble-quotes from that era as evidence that we're not in a bubble now is absolutely preposterous.

tommynicholas 10y ago
"Deal flow halted for 6 months" - Sequoia invested in Airbnb, Dropbox, and Green Dot within 6 months of RIP Good Times. Pretty nice deal flow.
rms_returns 10y ago
> 2008/2009 was only partly insane because of tech, Its easy to provide all kinds of justification in hindsight or "after the crash". If you were a "happy investor" sitting on top of January 2008 crash, I bet the last thing in your mind will be "someone is insane". Its only because the crash happened just after that and so now you have the liberty to say "INSANE TIME". Its the same economic cycle happening right now. I don't know when the DOW/NASDAQ is going to crash and how many points, but I do know that almost no one can anticipate it right on top of the price chart, and say "Hey look, this move will now cause an economic recession". It always happens after the fact!