It seems related to some concept of “low interest rate phenomenon in ideas”. Sometimes in a low interest rate environment, people fund all sorts of stuff, because they want any return and credit is cheap. Later much of this looks bunk. Likewise, much EA behaviour around the plentiful money and status of the FTX era looks profligate by todays standards. In the same way I wonder what ideas are held up by some vague consensus rather than being good ideas.
Good article.
It’s an asymmetry worth pointing out.
It seems related to some concept of “low interest rate phenomenon in ideas”. Sometimes in a low interest rate environment, people fund all sorts of stuff, because they want any return and credit is cheap. Later much of this looks bunk. Likewise, much EA behaviour around the plentiful money and status of the FTX era looks profligate by todays standards. In the same way I wonder what ideas are held up by some vague consensus rather than being good ideas.