Great point regarding the lack of involvement of "normals". However, the presence of "normals" alters only the magnitude of a phenomenon, not the shape. I'd s

Great point regarding the lack of involvement of "normals". However, the presence of "normals" alters only the magnitude of a phenomenon, not the shape. I'd suspect the shape of a phenomenon wouldn't necessarily change due to the presence of "normals" because it can be shown that "normals" don't make better or worse decisions on average than non-"normals". Furthermore, many "normals" in the dot-com situation were guided there directly or indirectly by overeager pension funds, brokers, analysts, and the like (non-"normals").