People respond to incentives: Why do a hard thing when I can do an easy thing?
During the hype cycle, making "x for y" is easiest to get funded and exit.
Once the hype crashes and we're in the trough of disillusionment, then people are bearish. So founders either move to the next hype cycle or figure out a more durable business from the ashes
During the hype cycle, making "x for y" is easiest to get funded and exit.
Once the hype crashes and we're in the trough of disillusionment, then people are bearish. So founders either move to the next hype cycle or figure out a more durable business from the ashes