You could’ve said almost the same exact thing in 2001, after the dot com bubble well and truly burst. Pets.com was a laughing stock. So was that stupid Super Bowl commercial where they shot a hamster out of a cannon.

Turns out those companies weren’t wrong. They were just 20 years too early. And one or two of them even survived and thrived. (Amazon.) Also we got a lot of fiber laid that turned out to be useful.

I think it’s a similar situation here. If we knew a priori which uses cases and companies would work out we’d only fund those. But we don’t. So boom, bust, repeat. Humanity moves forward. Of course, as you said there is collateral damage. And externalities.