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Comment by grosjona | Hacker News Reader

I have a suspicion that bubbles can only exist when media is centralized. Today's media is too decentralized to create the wave of panic that is necessary to burst a bubble. There will always be some people somewhere who didn't get the news and who still believe that x has value and will be happy to buy when they see a price drop...

Also, the fear of missing out among millenials is stronger than their fear of losing everything.

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> I have a suspicion that bubbles can only exist when media is centralized.

Many of the worst bubbles in history occured in countries with very decentralized media, e.g. the Railway Mania in the UK in the 1840s was (relative to today) bigger then the global one in 2007+. So, no, media centralization can't be the reason :)

I doubt the 17th-century Dutch were all reading the same issue of Tulip Investors' Weekly.

Media can create a bubble, but more often then not they are just chasing it.

As far as bubbles cant pop now, well we just had the crypto pop.

Lol it has not truly popped yet, it will climb higher and crash even harder for the next five years until the tech matures and people have a better idea of what's achievable.

Wouldn't

>Today's media is too decentralized to create the wave of panic that is necessary to burst a bubble

mean bubbles would be common but not burst? Anyway I suspect history will continue in the usual manner rather than it being very different this time.

What evidence do you have to back the assertion that millenials have a strong FOMO versus their fear of losing everything any of the other generations? (Anecdotes don't count as evidence)

Why wouldn't bubbles be able to exist without a centralized media?

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