No where else in my career have I seen senior level engineers earn 7 figures.

> talent is attracted to interesting problems and id attracting the money

First part is fair, top engineers are passionate about solving challenges.

Second part not so much. How can you explain that “interesting problems” is an efficient capital allocation strategy?

Money is interested in making more money. Here’s an alternate hypothesis: Every few decades a bubble appears. VCs which know their history dust off their bubble playbooks and enter close to the ground floor. But this time is different because they also got to dust of the century old playbook on unregulated financial markets.

> 13 years isn't long enough to prove its not a bubble.

Your argument is upside down. BTC has had 13 years and is complete failure. ETH came out 6 years ago but so far the DeFi space has not provided a single useful application that touches the real economy. Today we have a basket case of post-ETH decentralized compute and storage platform options that have not produced a single killer app.

Your argument is upside down. If ETH had launched in 2020 instead of 2015, we could argue for more time to try out a product market fit. But the more years of r&d without a killer app, the more confidence that it’s a bubble.