Have We Been Partying Like It’s 1999?
“Heh. A government crash program? That’s twentieth-century foolishness. Market demands are always more effective. You just have to fool the market into cooperating.”
Vernor Vinge • Rainbows End
Speculative frenzies are part of technology, and so they are not something to be afraid of. Those who remain level-headed through this moment have the chance to build extremely important companies. But we need to make sure not to believe in the delusion that has now spread from Silicon Valley to the rest of the country, and indeed the world. That d... See more
David Cahn • AI’s $600B Question
Stock market bubbles occur when traders latch onto a compelling initial premise and extend the logic too far. Speculators take rising prices as proof that they were correct. Their error becomes apparent to them only in the fullness of time. People avoid reason until they have tried everything else. If you fancy that there will be clear signs as to
... See moreJoel Tillinghast • Big Money Thinks Small: Biases, Blind Spots, and Smarter Investing (Columbia Business School Publishing)
As for myself, I have a vivid memory of the late ‘90s tech bubble as I was a student in computer science at the time. The tech-related craze on financial markets was giving a lift to everyone on campus. It provided me and my fellow students with the firm impression that we were in the place to be, and that whatever we would do after graduating, it
... See moreNicolas Colin • Hedge: A Greater Safety Net for the Entrepreneurial Age
