Cognition (Devin AI) to Acquire Windsurf

I think the amount of turmoil around these deals is giving more weight to the possibility that we’re in a massive bubble thats quite divorced from any kind of fundamentals. Sooner or later the bubbles gonna burst.

The dot-com was a bubble because investors pulled money and belief at the first sign of trouble.

The landscape has changed dramatically now. Investors and VCs have learnt if we stick with winners and growth companies, the payoffs are massive.

We also have more automatic, retail and foreign money flowing into the market. Buy the dip is a phenomenon that didn't exist at the scale it is now.

Pre-2015 if Big Money pulled out, the market was guaranteed to fail, but now retailers sometimes have longer views and belief (on people like Musk, Altman) than institutions and they continue to prop it.

So, it's foolish to apply 2000 parallels to now. Yes, history repeats, but doesn't with the exact time or price points

> Investors and VCs have learnt

lol. Investors and VCs have no idea what they're doing

lol is a coping mechanism for the poor. If you really think top VCs / investors haven't learnt the long-term importance of staying the course, then you know nothing about the industry and mostly being influenced by popular social media posts shitting on the investor class.

There is a reason Anthropic/OpenAI and many startups are given much much longer ropes to be profitable than in the 2000 era when VCs pulled the rug the first opportunity of trouble

If VCs knew what they were doing, they'd have real jobs

There are always shitty 20% operators in every industry. They won't make money and get weeded out.

Delusional to apply this to top operators (and at the same breath complain about Rich getting Richer)