This was the biggest lesson I learned during my first pre-IPO quiet period. Seemed like everything I read that was inferring things from the S-1 or forecasting the future were immediately wrong or turned out to be wrong in the end. I suspect there's a lot of the Gell-Mann amnesia effect going on in the economy.
I don't think Crichton intended to imply a cause. But I guess it's just a bias toward believing the media and forgetting the isolated experience. I suppose there's an opposite effect at play regarding the media's treatment of COVID and recent politics, etc.
