The quote “signs of froth are indistinguishable from signs of adoption” is one of the many sayings from Su Zhu, one of the founders of the now bankrupt Three Arrows Capital, that often feels like genius in the moment, and looks foolish in hindsight.
The current environment, where microcap publicly traded companies are buying 10 times their valuation in speculative altcoins, is probably a good time to look back on how poorly this mindset has aged.
