Excess capital formation during mania in capitalism is a feature, not a bug 

A grand display of capital attracts the best talent to seize the opportunity

This surfacing of the crème to the top creates multiple credible competitors — eg. Base, Solana, Tron (ew)

This ultimately benefits the customers

So true. 

If you like the topic, "Manias, Panics, and Crashes: A History of Financial Crises" is a fantastic read.

Building something new. Host: /venturecapital /adventures /theitinerant

I’ve been recommended this one a few times, time to check it out!