Tamny Strikes Again

The incomparable Tamny! He thinks in such unfamiliar ways it is like a workout to read his stuff - but because the light of clarity is so satisfying, it is always worth the effort.

To which some will say “yes, but,” only to mention all manner of ridiculous (in retrospect, of course) internet companies that went public over twenty years ago. There’s your “bubble,” right? Wrong. Lest readers forget, Amazon’s share price fell into the single digits in 2001 after all too many ridiculed its formerly triple digit valuation. Amazon was once “Amazon.org AMZN -0.9%,” and it was for a time one of the more public faces of an “internet bubble” having “burst.” “.org” for Amazon was a joke about its “non-profit” status. What’s perhaps “obvious” now about good and bad internet companies wasn’t obvious at the time. What’s transformative yet again is a magnet for all sorts of investment that often only becomes understandable well after the fact.
“Yes, but” what about the housing “bubble” in the 2000s? Glad you asked.

https://www.forbes.com/sites/johntamny/2021/02/07/a-modest-proposal-to-voluntarily-abolish-the-word-bubble/?sh=378fd9e2710b