The original source was much more sensible.

The comparison makes sense for evaluating whether you’re over-invested in something. Like, if Nvidia suddenly poofed out of existence, would it seriously be worth 16% of everything the whole country makes in a year to get it back?

Owning a car that’s worth 16% of your yearly income sounds reasonable, no matter what your actual income is. A Pokemon card collection that’s 16% of your income is probably too risky, no matter what your actual income is.

Also, GDP is a decent scale to use for charting investment in a productivity tool, because if GDP ramped up at the same time as investment then it looks less like a bubble, even if they both ramp up quickly.

But that’s not what we see. We see a sudden and volatile shift, nothing like the normal pattern before the hype.

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