Initial response is that most tech people, especially in the valley, live in a bubble. But beyond that: interest rates are far and above the most responsible f

Initial response is that most tech people, especially in the valley, live in a bubble. But beyond that: interest rates are far and above the most responsible for the current hits. This has been the case for a long time - https://seekingalpha.com/article/4479097-the-real-reason-that-arkk-continues-to-sink https://seekingalpha.com/article/4479097-the-real-reason-tha.... The other three reasons are sort of secondary to this.