The difference is that social media as a sector is a dead end, while there will absolutely be multiple trillion+ dollar "crypto" companies at some point in the

The difference is that social media as a sector is a dead end, while there will absolutely be multiple trillion+ dollar "crypto" companies at some point in the future. It may not happen anytime soon, and it may not be any of the companies in existence today, but the overall bet (and its associated hype) is a valid - even necessary - one. In that sense, the current state of crypto is less like social media and more like the dotcom bubble of the early 00s. No one really understands the underlying tech well enough, but everyone wants to be involved. There are companies surging in valuation just by adding "crypto" to their name. While all of this will correct itself, the underlying tech (the web in 2000, crypto today) will eventually prove to be world changing. It's important to note that this is a hypothetical scenario where we're replacing terms to compare different industries. The statements above are not a reflection of actual market conditions or predictions about the future success of specific sectors. No sed/shitcoin required.