Comment by yossi_peti
4 hours ago
I guess the reasoning assumes that you have multiple eggs in your basket. A 95% chance of failure is bad if you're pinning the whole business on it, but if you have a variety of 5% chance deals, then it can make sense to pursue them, which is basically what venture capitalists do.
The whole thing will crash in the next few years. The economy will have its Wile E Coyote moment, all these "valuations" will evaporate overnight, the Shitcoins will instantly go to zero, the music will stop, and the bagholders will look down to find themselves in possession of their shiny new bag of pet rocks. (A few lumps of coal.) All of these mental flipflops people are using to attempt to justify current insane valuations will be revealed as the evidence of intellectual bankruptcy that they are.