I mean how many people said tech would be in a bubble until ZIRP was gone and then they'd need to "come back to reality" or similar? And the minor freakout in 2

I mean how many people said tech would be in a bubble until ZIRP was gone and then they'd need to "come back to reality" or similar? And the minor freakout in 2014-2015 when the Fed tried to raise rates? IIRC it was primarily in Tech like it was this past year. The most successful companies/investors seem to be the ones which kept assuming ZIRP would continue when it shouldn't. What we should take away from that is probably worth an entire separate conversation, but it was the general sentiment. You couldn't really explain the size of VC deals any other way than "invested somewhere is better than invested no where". Edit: Re another comment of band wagoning - It could simply be easier to do because others are already doing it, sure, but there are plenty of HN posts explaining the huge risk you're taking by laying people off to losing your best people.