> I’ve heard this exact argument 5 or 10 years ago. Yet here we are.

We've had an unprecedented boom period and non-stop money flooding the market for the last 5-10 years so there's no way possible the argument could have come to it's logical fulfillment in that period of time.

As long as money is flowing insanely anything is possible, there is no reality. Look at how many startups there are with non-sensical products, insane hiring practices and out of control leadership. When the money just pours in the top of the funnel all kinds of wacky stuff happens.

We're starting to reality come back, and I think it may bite us this time.

You said it for years… but for years there hasn’t been a trigger.

There’s a trigger now.

The FED keeps raising rates. There’s a looming recession (or perceived to be. Same thing.). Markets, incl crypto are dropping hard. Several crypto projects are suspending withdrawals, locking peoples money away. “Stable” coins are getting dépêgged, which is destabilizing DeFi.

We’re starting to see dominos start to fall. Your broken clock may finally be right.