Yes, tech investing is more silly than ever
The article misses the fact that tech investing is, for the most part, a simple circle jerk. Andreesen invests so Cuban invests so the next guy invests and eventually they get the bigger money from institutional investors in (can’t miss the next big thing, and hey, did you see Marc Andreesen invested), and so on. For the early guys it doesn’t matter, they had an exit event already (Orwellian language anyone, why not call it what it is, cashing out).
For the institutional guys it also doesn’t matter as the investment money is hidden in R&D spending and hey, Marc Cuban, right?