In the early 2000s, I was in a bar with a buddy of mine. Our waitress comes by and chats us up and realizes that we both work for Nortel. She then starts to tell us about her investments in Nortel and how she and her mother were going to get rich with their shares. I remember that friend of mine saying that we should sell our shares right now. He was right, we should have. When the layman invests in things they don’t know about thinking about that “sure thing”, it’s really time to get out.
Fast forward 15 years, I’m walking in the neighbourhood (not single anymore, no interest in the bar scene, just care about getting a good night sleep these days), with children in tow. There’s a 20 year old kid walking ahead of us, he’s got the Bluetooth iPhone earbuds, he’s loud, he’s sure of himself, he’s got that 20 year old bounce in his step. Everybody on the street can hear him (and I think that it was probably what he wanted): “they can’t screw with the currency…. It’s bound to go higher, it’s a sure thing”.
As a another friend of mine used to say, “it’s the same thing different”.
(Note that I never got to know that waitress, maybe she was a PhD student in telecommunications and maybe that kid walking on the street was the next Vitalik Buterin… but I doubt it…).