> will it be while current speculators can stay solvent or will they be too early in the same way dot com speculators were? I wouldn't want to hazard a guess.

> will it be while current speculators can stay solvent or will they be too early in the same way dot com speculators were? I wouldn't want to hazard a guess. Speculative tendency is a given as an underlying driver, though it can be modulated by the structure of financial instruments, markets, interest rates, taxation etc. What is not a given is that FOMO will be continuously expressed every few years just so that a number of savvy intermediaries can keep banking on that collective defect. Manias are also generational phenomena - people do get burned out. I do have a feeling that currently we have collectively "burned-out" from the promised tech disruption. I may well be wrong and a powerful idea that is not subject to all the above caveats is now incubating somewhere in the long tail. An interesting question is whether we will see it here on HN.