It might not be the drunken night out that puts you in hospital, but the long term damage. We're going to be dealing with the consequences of the pandemic alone for the next decade. It's possible some things might turn out more positively than expected, but it seems sage to predict that it'll be bumpy even if so.

That and right before the pandemic we had a been in a very long bull market (frothy on cheap money) that bad companies were getting funded on huge rounds/due diligence was an afterthought.

I wouldn't be surprised if we look back on crypto and are like, oh yeah the reason crypto took off and became way too snake oily was because there was too much money looking for returns over the last decade.