There was a good thread on this topic a year ago: https://news.ycombinator.com/item?id=23216852 https://news.ycombinator.com/item?id=23216852 That and Matt Lev

There was a good thread on this topic a year ago: https://news.ycombinator.com/item?id=23216852 https://news.ycombinator.com/item?id=23216852 That and Matt Levine's take on it ( https://www.bloomberg.com/opinion/articles/2020-05-18/the-unicorns-fell-into-a-ditch https://www.bloomberg.com/opinion/articles/2020-05-18/the-un... ) posit the thesis of an entire industry that evolved incorrectly and artifically due to near-zero interest rates and arbitrage.