Should you chase hype or ignore it? The tech industry has been debating this for decades. So at @Sequoia, we dug into 20 years of hype data.
This summer, I worked with Sequoia intern @ochonaut to measure hype over the past 2 decades. The chart below ranks the most hyped topics on Hacker News for every year since 2007. Under each year sits the most valuable company founded that year.
Here are a few observations:
1/ The top company founded in a given year is rarely related to the hype of that period. Airbnb was founded in 2008, when the top topic was Google. Uber arrived in 2009, while the conversation revolved around low-level programming. Anthropic came in 2021, while the internet was consumed by crypto. Chasing hype rarely leads to enduring outcomes. The top companies of recent years have yet to be decided.
2/ New trends announce themselves five to six years early. LLMs first cracked the top 15 in 2016 and took until 2022 to hit #1. AI coding entered at #12 in 2021 and tops the list in 2026. Crypto entered in 2011 before 2017 and 2021 peaks. “New” trends don’t appear out of nowhere, and internet subcommunities are often the first to know where the puck is headed.
3/ Long-term “hype” is a durable signal. The “Musk-Verse” has been a top 15 topic for every one of the past 14 years. Sustained attention on the internet is rare and tends to mark something real.
Next up, we want to run the same analysis with sources like X and LinkedIn. If that's of interest, give us some encouragement and we'll share the results.
This is a topic that has been weighing heavily on my mind for over five years. I hope we can find a way for eveyone to move forward with “inquiry” as the true-north. For the best interest of the globe.
It’s official:
Apple, $AAPL, is now the second company in history to surpass $5 trillion in market cap.
This makes Apple the largest company in the world, now 6% larger than Nvidia.
If you invested $10,000 in Apple in 2003, you would have $15.5 million today.
Truly historic.
I’ve had multiple points of contact at GC over the years. By no means were they close friends but I got a pretty good view into how that firm operated.
And FWIW, to this day, GC is the firm I hold in my mind that was most emblematic of the irresponsible ZIRP slop of 2021-22.