[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.