The article is shallow and it would be easy to rip apart most of its arguments (eg. [1][2]). But the worrying trend is that such articles are now appearing very regularly, and at some point perception becomes reality. At this pace, SV will be the Wall Street in no time, if it is not already.

[1] > You’re churning out companies that are raising hundreds of millions of dollars, and going bankrupt in literal satires of themselves

Yes, and that is an aspect of capitalism. You take risk on crazy ideas. Some of them will be a fancy juicer, but some of them will also be an electric car.

[2] > Your companies are now solving “my-world problems” (food delivery, cold-pressed, on-demand juice) versus the “real-world problems” you used to solve

Google wants to deploy Loon in Puerto Rico to offer connectivity. Tesla offered to rebuild Puerto Rico electrical grid based on Solar energy. If these are not real world problems affecting everything, I don't know what the author has in mind.