Pasha: I think the reason that crypto happened was it's a lot of, so a lot of investing is like inflow outflow. When there's money coming in, the prices go down. So with crypto, if you come and say, "Hey, anything you can own piece of it,"I think you get pretty sloppy almost. Pasha: The giving out free money to people twisted some of the incentives of truly finding product market fit. It made it hard to know where people actually using this because it solved a problem for them.

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