Just threw up in my mouth. Yes, our capital markets developed FOMO on the next Apple or Microsoft and so they devolved into throwing caution to the wind and fun

Just threw up in my mouth. Yes, our capital markets developed FOMO on the next Apple or Microsoft and so they devolved into throwing caution to the wind and funding people like This. There were trillions lost, millions of workers permanently removed from industry (I think IBM laid off almost a quarter of them alone), plus the damage to the private equity companies that were robbed of investment (by ALL available capital going into "companies" like PETS.COM during the dot-com bubble) and then the catastrophic losses we all sustained as the public equity markets popped followed by the tech nuclear winter that lasted SIX YEARS (when few university students graduated with CS degrees) causing untold additional losses for decades thereafter. I'm glad there are companies like YCombinator to experiment in a controlled way with exploiting high-level technologies (like Web 2.0...) to make our economy run more efficiently, but execs back then were not experienced enough to put people like this guy under a proper manager or simply cut him a check to buy a Corvette or something and send him on his way. Some of those execs did have big wins that have allowed them to move on from their "stabilizing role" in the economy to a now very "destabilizing role" (by inflating another stock market bubble and "artificial" energy crisis). Let's hope the capital markets shut them down before it repeats --because next time, China and Russia won't be on their knees as we screw around with investments in those finding their way at McDonalds.