Manias, panics and crashes - nothing new under the sun. But actually no, in the age of 24/7 viral digital titilation, manias have been upgraded to hysterias.

Manias, panics and crashes - nothing new under the sun. But actually no, in the age of 24/7 viral digital titilation, manias have been upgraded to hysterias. Once the dust of this cycle settles the tangible "tech" advances booked will actually quite meager and people will not believe how many got so excited about so little. Entire theses and books will be written about how general STEM illiteracy and FOMO coupled with unprecedented liquidity create fertile soil for all sorts of bizarre collective phenomena.