You are right that successful business people are on the whole pretty intelligent. This isn’t always true of investors as individuals, but investment management tends to be reasonable smart too; some very much so.

I think FOMO is a real part of the cycle that causes a lot of bets to be made on untried technologies. Technologists might well reflect on how many of those bets are hedges, and what the true cost of failures are.

It’s also worth noting that a significant chunk of the most egregious bullshit I see flung around in the area is coming from technologist driven startups in the space...