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Just like we study the “Crash of 1929”, our kids will study the “bubbles economy”: - Internet bubble 2001, - Blockchain bubble 2021, - AI bubble 2025, (Omitti
by eastbound 2y ago
Just like we study the “Crash of 1929”, our kids will study the “bubbles economy”:
- Internet bubble 2001,
- Blockchain bubble 2021,
- AI bubble 2025,
(Omitting 2008 and Covid because they’re not startup-related).
Am I wrong or are they bubbling faster?
- ptero 2y agoI think bubbles form and pop all the time. I would add (in the US) home price bubble, biotech bubble (of mid 2010s), cybersecurity bubble and more. Pops are less noticeable when a lot of money is sloshing around so deflating one bubble immediately start inflating something else. Worker bees can switch to the next thing in the same "building next great thing, work is plentiful, money no object" environment. So the bubbliness, IMO, is a function of the macroeconomic state, specifically the amount of money in the economy. Things get sober (and very ugly) when the money printing cycle ends, as it eventually must to avoid sliding into hyperinflation. My 2c.
- csomar 2y agoI think 2008 set the stage that the government will bail out reckless economic activity for the top at the expense of the tax payer. Actions no longer have consequences and you better be big enough to hold the economy hostage to your scheme.