Money is being thrown at Silicon Valley by clueless pension and sovereign wealth funds and the Softbank guy. This irrational exuberance started around the Windo

Money is being thrown at Silicon Valley by clueless pension and sovereign wealth funds and the Softbank guy. This irrational exuberance started around the Windows 95 launch when bankers finally realized that computers and the internet weren't going to disappear in a few years as some sort of a fad and that they had no "tech" in their portfolio, hence the mad rush to buy any business with a website. The mad scramble to jump on these next big thing hasn't gotten less ridiculous since the dotcom era, but quantitative easing since the 2000 crash has increased the size of the speculative investments made available by an order of magnitude. The "textbook" example of Silicon Valley hubris favored by so called "journalists", Theranos, was laughed out of Sand Hill Road and had to go to Washington and the Walmart Brats for capital. In fact, most companies with negative return business plans (Ride sharing, food delivery, commercial realestate subletting, etc) weren't funded by Silly Valley investors at all beyond angel, seed, and A rounds.