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0 pointszzalpha10y ago0 comments

Except in a gold rush everyone is trying to get a piece of a real, actual resource.

What are folks flocking to? A unique combination of deep VC pockets and gullibility that can only be found in the SF geological record?

No, this looks more like a regular ol bubble to me... The flywheel is spinning up, driven by run of the mill irrational exuberance and a belief that everyone in the bay area is just smarter than everyone else. Anyone on wall street in 2007 should find that eerily familiar...

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chipsy10y ago

Gold isn't particularly real, as resources go. It doesn't have that many practical uses.

That's what makes gold rush economics similar to bubble economics: Everyone decides to chase after a nebulous source of value.

San Francisco has always been the Gold Rush City.

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