This reminds me of the many reasonable-sounding articles in the late 1990's that rationalized the sky-high valuations of dot-coms. For example: https://www.th

This reminds me of the many reasonable-sounding articles in the late 1990's that rationalized the sky-high valuations of dot-coms. For example: https://www.theatlantic.com/magazine/archive/1999/09/dow-36-000/306249/ https://www.theatlantic.com/magazine/archive/1999/09/dow-36-... https://hbr.org/1999/11/the-new-economy-is-stronger-than-you-think https://hbr.org/1999/11/the-new-economy-is-stronger-than-you... A few months after these articles were published, the stock market crashed... and it took the better part of two decades to recover.