I think it’s more like the “crash” that never happened with Uber/gig and crypto. I can’t tell if it’s just luck with one craze seamlessly enabling another in some cosmic coincidence or smart people being able to absorb the excess capital and capacity to pivot gracefully.

It’s basically similar to biking on rolling hills with each subsequent hill being a lot taller than the previous one. You come down the hill hard, but just before you crash to the ground, another hill comes up, and you let the momentum carry you through, and you also get a gush of wind in your back.

That’s what’s been happening since 2012 - it’s a great 13-year run now. I’ve stopped betting against it.