Comment by cheschire

Well, not to be too egregiously reductive… but when the M2 money supply spiked in the 2020 to 2022 timespan, a lot of new money entered the middle class. That money was then funneled back into the hands of the rich through “inflation”. That left the rich with a lot of spare capital to invest in finding the next boom. Then AI came along.

Once the money dries up, a new bubble will be invented to capture the middle class income, like NFTs and crypto before that, and commissionless stocks, etc etc

It’s not all pump-and-dump. Again, this is a pretty reductive take on market forces. I’m just saying I don’t think it’s quite as unsustainable as you might think.