The bubble has been around for a while. It's just each time it gets anywhere near popping, Fed prints more money [0]. So the market-cap/dollar ratio hasn't hit a historically expected correction, but the purchasing power of a median salary has been declining and will continue declining as long as this policy is in place.

But don't worry, the media is working around the clock to convince the general public that owning a detached house, starting a family, eating meat and going on a vacation is evil, so we must welcome the declining affordability of these things and be grateful for a unique chance to put custom pronouns in our bio. /s

[0] https://tradingeconomics.com/united-states/money-supply-m0

I'm more shocked to see JPM and GSCO taking this on.

Why? People will buy this, just because it's another Tech-Stock. People bought Nikola and Wirecard just because they have to do something with compute/tech.

As for JPM and GSCO it's good business.

When you sell shit to public you become known as the shit seller at which point you become toxic for non-shit.