Steve Blank with a fantastic piece on the Silicon Valley tech bubble. I’d actually go a step farther: I’d argue that Silicon Valley isn’t just insulated from the realities of middle-class likely; I’d argue that it’s also out of touch with other upper-class urban centers. I think Twitter is a fantastic example of this: it was always incredibly popular in Silicon Valley, but I’m skeptical that it ever truly took off outside of the Bay Area (this is pure speculation and based on anecdotal evidence, fwiw). So startup bros and VC jockeys thought that Twitter was the way of the future (see: past valuations), while no one else really got it.