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The problem when a new field opens up is that there's a huge land rush as everyone dashes in to stake a claim. We all know very few plots contain gold, but if y
by bruce511 2y ago
The problem when a new field opens up is that there's a huge land rush as everyone dashes in to stake a claim. We all know very few plots contain gold, but if you land on one that does, it can pay well. Very well.
So the degree to which you are affected depends on your risk/return equation. There are always "get rich" opportunities (which are usually balanced by "high risk" aka "get poor" results.)
The later the stage, the closer you are to the bubble bursting. This is happening -all the time-. (Think dot com, mobile, great recession, crypto (web3), and (to come) AI.
Don't misunderstand me. There -are- winners. Even in dot com. There are winners in every bubble. Lots of companies came through dot com just fine. Some grew mega rich (think Amazon).
Some companies will make coin on AI. Ultimately every business will end up using it in some form or another. Right now the miners are grabbing shovels and staking their claims. Most will go home empty handed. Some will create generational wealth.
What was it like in the aftermath of dot com? A lot of miners hanging around with nothing to do, waiting for the next field to open up. Me? I'm not a miner. I sell shovels and jeans.