I have the feeling that, unlike in 2001 and 2008, we haven't had a recession in a while so there wasn't a filtering process for unprofitable startups. Due to t

I have the feeling that, unlike in 2001 and 2008, we haven't had a recession in a while so there wasn't a filtering process for unprofitable startups. Due to the quantity of $$ looking for an investment target, the unprofitable ideas kept getting investment $$ far longer than would normally be the case. But, eventually, it becomes apparent that some of these ideas aren't going to ever be profitable, because not every problem is solved by growth. So, really, it's just as well to have a shakeout of unprofitable ideas now, rather than accumulate ever-more bogus ideas sucking up resources. The only unusual thing is that it's been so long since the last recession that this shakeout is happening without one. Of course, we could have one soon, but I've been thinking that for a while now, so who knows.