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Steff smith: I personally think of a bubble as an unsustainably high and then it leads to a big crash, like 50 to 90%. And there's been lots of those throughout histories. So i know you're pretty passionate about this topic, and almost wrote an article about it, so i'd love to just let you start. What inspired you to start thinking about bubbles? We've had cryptos going to all time his. And real estate is also booming. People are speculating. And i think sometimes that's helpful, sometimes it isn't. Wellcome back to the shat you don't learn in school.

At a time where several asset classes are at all-time highs, there's a lot of talk about whether we're in a bubble. That, coupled with crypto assets falling to ~half of their highs, prompted Cal and Steph to dive in to try to answer this question.

In this episode, they discuss the markings of past bubbles, the innovation hype cycle, the difficulty in profiting from nascent innovations, the importance of educating yourself and building your own conviction behind your decisions, managing your psychology (offense vs defense), the cyclical nature of market cycles, and of course... the burning question of whether they think we're in a bubble today.

They also share how they've fared in crypto and how they're thinking about investing moving forward (including Cal's foray into de-fi)

Recommended resources include the books "The Simple Path to Wealth" and "A Random Walk Down Wallstreet", as well as economic indicators like the Shiller PE ratio: https://www.multpl.com/shiller-pe

*** NOT FINANCIAL ADVICE *** :)