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The analogy is thought-provoking, but it blends a market observation with a broader investment thesis. Here's the key idea: Narrative shifts can redirect capital. When investors believe a new technology or business model can capture market share, money often flows toward the perceived disruptor and away from incumbents. Telecom example: If investors believe SpaceX's satellite-based communications could compete with traditional mobile networks, stocks like Verizon and AT&T may come under pressure because the market starts pricing in greater future competition. Crypto parallel: Similar rotations occur between sectors. Capital has shifted over time from Layer 1s to DeFi, NFTs, AI tokens, Real World Assets (RWAs), DePIN, or memecoins as market attention changes. However, there are two important caveats: 1. A new narrative doesn't guarantee disruption. Many highly anticipated technologies take years to generate meaningful revenue or market share, and some never do. 2. Incumbents don't always lose. Established companies often respond through partnerships, acquisitions, or new products, allowing them to remain competitive. The broader investment lesson is valuable: rather than focusing solely on predicting tomorrow's price, ask: Is this project or company gaining real users? Is revenue or on-chain activity growing? Does it have a sustainable competitive advantage? Is the current valuation justified by its long-term potential? Markets tend to reward businesses and crypto projects that can create durable value, not just attract temporary attention. Narratives can drive prices in the short term, but execution ultimately determines who becomes a long-term winner.