> The speculation democratized investing in a way never seen before. Clerks, shopkeepers, and domestic servants, people who had never owned stocks before, mortgaged their homes and borrowed money to buy railway shares.

I like the term "democratize investing" here. "We're granting the masses the privilege of dumping their lifesavings into this overhyped project, so we can make a clean exit".

Several paragraphs later, the article argues this time is different:

> Yes, retail can buy Nvidia, but they can’t access pre-IPO rounds where the real speculation happens. This concentration among professional investors won’t prevent a bubble, but it might prevent the kind of widespread financial devastation that followed previous crashes.