[plywoodtrees]

I smiled at your characterization. Although, more realistically, our archetype has done modestly well by working for the man, and has 100k-low millions in index funds and company stock, and some comfort with +/- 30% swings y/y.

But let's also remember, that middle-aged character has seen the hype cycles many times before in previous decades, and recognizes the scam. The sky-high and unstable valuations, the co-dependent press coverage, the hand-waving distraction from the absence of realistic uses, the flurry of me-too startups, the enthusiasm of lay investors.

Hype usually indicates pure bullshit, but sometimes something useful emerges out of it. Most often the original projects are decimated.

[shrimpx]

That's true, but someone less conservative would see the cycle and want to throw in on the next iteration. The HNer sees the iterations go by and mostly calls BS, but then profits tangentially by getting high salary jobs fueled by the cycle. I would also say the HNer has a bit of a doomsday/apocalyptic tendency, entertaining the idea that the next bust is "the end." E.g., crypto is dead.