The left wants web 2.0 to burst, longing for the tech crash that will never come. Crisis-seeking and IQ denialism is how the cognitively average reconcile their mediocrity in a society and economy where intellectual accomplishments and wealth are more important than ever.
Small/medium-cap stock picking is dead. Now it’s just large cap tech and ETFs that dominate. The ‘bigger is better‘ theme is playing out in 2014, with large cap tech stocks like Google, Twitter, Apple, Amazon, and Facebook continuing to do well. And the most successful, most valuable web 2.0 companies of 2014 & 2014, such as Uber, Pinterest, and Snapchat, keep rising in valuation. It’s not like there is some plateau or point of diminishing returns where you can’t keep getting bigger and better. In early 2014 the left said Bay Area real estate was a bubble after prices had risen 25-35% in 2013; now they are up another 15%. A $2.5 million home can easily become $4.5 million in these highly sought-after, high-IQ regions. Some homes are selling for 10-20% above listing price, in all-cash bidding wars. In Silicon Valley, there are people with middle class incomes who are sitting on millions of dollars of home equity. They moved there in the 80’s and early 90’s before the market exploded. Meanwhile, losers living in crappy, low-IQ neighborhoods can’t sell their home no matter how much they discount the price. China is becoming like America; America is becoming like China. Two of the biggest, the smartest and the richest countries leading the world.