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d_r | 14 years ago
This works for declines too. People continue to enroll to study finance or law in promise of riches[1] after each respective bubble has already popped.
More importantly, though, not every college freshman/high school student meticulously follows HackerNews or the latest fads. Not everyone even follows NASDAQ or can analyze the tech sector. People like "sure" things. Hate it or love it, the mainstream media and Hollywood have quite a lot to do with what people know and think.
[1] http://www.nytimes.com/2011/01/09/business/09law.html?pagewa...
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