[Retric]

Markets can’t really get smarter over time as they represent all investors. From young teenagers to experienced institutional investors. You just get cycles of people learning the same lessons over again, but that doesn’t last long term just at best a few decades.

[mantas]

That's not how evolution works. The new generations learns aggregated knowledge of previous generations really fast.

Babies don't have to invent their toys from scratch, huh?

[rbrtl]

That also isn't how evolution works...

You're conflating evolution with education. Education also varies from one generation to the next as the educators learn from their own experience, or are imposed upon by government in curricula and standardisation.