Correction: people haven&#x27;t been calling a bubble for the last year, it&#x27;s been for the last 5 years:<p><a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=2231352" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=2231352</a><p>So the majority of people called a tech bubble, unlike your claim that most people are &quot;permabulls&quot;, and then there was a period of great growth and prosperity. There have been plenty of people predicting gloom and doom to happen before now and none of them are admitting they were wrong. So basically it&#x27;s gone down exactly the opposite as you&#x27;ve described.<p>Eventually, the naysayers will, to an extent, be right. But it&#x27;s ridiculous to act like financial market movements are obvious and we should all predict it perfectly. It&#x27;s even ridiculous to act like a few resignations is indicative of a bubble popping. The strongest evidence that a bubble does not exist is all these weaker companies struggling, because in an actual bubble they would be propped up by the relentless speculation. Yet people point to failed companies as proof there&#x27;s a bubble, even while many tech companies are doing great.<p>Either way, financial markets are very difficult to predict, unless you count predicting the same direction for years and waiting for it to be right. So stop acting like it&#x27;s easy and obvious. If you really feel so strongly, put your net worth into shorting tech stocks and make a ton of money.