Not at all. This is probably the one thing they've gotten the most right so far. It's not unique to tech stocks - it's very deep part of investor psychology.

Not at all. This is probably the one thing they've gotten the most right so far. It's not unique to tech stocks - it's very deep part of investor psychology. E.g. in a romantic relationship, people being far more enthusiastic and more willing to invest in a partner with high perceived future potential earning and other value, than in a partner who's already clearly laid out all their cards.