All financial asset markets are so overbought that it would have seemed like a fairy tale in the 90’s.
Because of the availability of “investing” corporations are unevenly and incorrectly valued, people are mindlessly sweeping away stocks guided by “on a whim”, “the odd shot”, “WSB pamp!”, etc.
Take for example those guys from WallStreetBets, who teamed up and started dumping companies purely for fun, like it was with GameStop or AMC.
But the problem is that this growth is possible until the big players decide to “revive” their virtual X’s, and as we have seen there is only one outcome – a 10-30% dump of an asset.
But what could be worse than degenerate investors? – That’s right, degenerate executives.
If we glance through the news headlines in recent years, we immediately notice plenty of scandals with unqualified executives everywhere (Disney, Twitter, Netflix, top sports organizations, etc.).
People are so out of touch with reality and live in this “free money” world that they don’t realize that they don’t deserve any credit for their success, just a coincidence that they ended up in the right position and that national governments were printing money like crazy.
Sooner or later it had to stop and these people had to be landed, which is what we have been seeing throughout the year.
Real company investors are draining their bags to the crowd who believe in Netflix at $700 and $BTC at $100,000.
And the companies that want to stay afloat are doing the biggest reorganization.
The time for free money has come to an end and savvy people have begun to notice that instead of 100 people qualified and needed, they have 1,500 people sitting on their payroll.
That’s why we see purges in Twitter, Meta, Amazon etc., what we can’t say about crypto-industry, same Binance wants to expand its staff by ~2000 people by the end of the year.
Remember one simple thing: the stock market and IT corporations today are the cryptocurrency market of tomorrow.
After all the dumps and year-long downward movement, the market has not experienced staffing pressure, vacancies abound, pay is times higher than classic marketplaces, sooner or later, but Black Thursday is still waiting for us.