I thought his hiring post was incredibly useful despite a couple disagreements I had. This one on the other hand seems much less useful. The fact is a bubble

I thought his hiring post was incredibly useful despite a couple disagreements I had. This one on the other hand seems much less useful. The fact is a bubble is only obviously in retrospect, and the forces that led to the dotcom bubble (completely unknown potential of "The Internet" combined with a deluge of dumb money due to easy IPOs and accompanying hype cycle) are no longer present, and thus any future bubble will look completely different and the conventional wisdom won't spot it coming.