Comment by fuzzfactor

>the message as opposed to the messenger?

Exactly.

The message is plain to see with very little advanced math.

The only news is that it is the CEO of IBM saying it out loud.

IMHO he has some of the most credible opinions at this scale that many people have seen.

It's "highly unlikely" that all this money will be paid back to everyone that invested at this point. The losers probably will outnumber the winners, and nobody knows whether it will end up becoming a winner-take-all situation yet. A number of wealthy players remain at the table, raising stakes with each passing round.

It's so much money that it's already too late to do anything about it, and the full amount hasn't even changed hands yet.

And the momentum from something so huge can mean that almost the entire amount will have to change hands a second time before a stable baseline can be determined relative to pre-existing assets.

This can take longer than anyone gives credit for just because of massiveness, in the mean time, established real near-term growth opportunities may languish or even fade as the skew in rationality/solvency balance awaits the rolling dice to come to rest.